In the first half of the 20th century, the term Bakelite had become a synonym for plastics, and since the appearance of its thermoplastic descendants, people have used the name to distinguish the old, heavy thermosets (melamine, phenolic resins) from what they more or less disparagingly call "plastic". However, contrary to what everyone assumes based on common usage, Bakelite is not a generic term, but a brand, namely one of Bakelite AG in Iserlohn (which, since its parent company Rütgerwerke sold it to Borden Chemical in 2005, has enjoyed changing parentage from American chemical companies and is now owned by Momentive Specialty Chemicals).