What is it?

ATi Toolbar- launchpd.exe

What does it do?

launchpd.exe is part of the ATi?Catalyst Driver Suite, when this service is enabled a toolbar is displayed on the screen with shortcuts to various system components such as media player etc.

Virus Precations

No virus at this point in time appears to target this file for infection nor attempts to distribute itself via this filename. Keep up to date on any launchpd.exe viruses with this google search. You can disable it by right-clicking on the Toolbar and taking the tick off the "Load on Startup" option.