Step 1 : Introduction to the question "What business was known as the Haloid Company before it took the name of its most famous product?"
The Haloid Company, originally founded in 1906, was a photographic paper and equipment manufacturer based in Rochester, New York. The company gained prominence in the mid-20th century when it developed a revolutionary photocopying process. This innovation proved so successful that the company rebranded itself in 1961, adopting the name of its groundbreaking product: Xerox Corporation. Over time, the word Xerox has grown to become a synonym for a copy machine, much like how "Pampers" became a synonym for disposable diapers.