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History[ edit ] Corel was founded by Michael Cowpland in as a research laboratory. The company had great success early in the high-tech boom of the s and early s with the product CorelDRAW , and became, for a time, the biggest software company in Canada. In it acquired Novell WordPerfect and started competing with the thought of being " Pepsi to Microsoft's Coke "  as Microsoft Word was the top-used word processing software at the time. Corel was in a difficult position as Microsoft pushed pre-loaded copies of its software onto new computers. This mainly consisted of Microsoft Works office applications, but a variant called Works Suite also bundled the Microsoft Word software. A new board of directors was then appointed and Derek Burney Jr.