Quantum dots are attractive due to their potential technological applications and the opportunity they provide for study of fundamental physics in the mesoscopic scale. This dissertation studies optically controlled spins in quantum dots in connection to quantum information processing. The physical realization of the quantum bit (qubit) consists of the two spin states of an extra electron confined in a quantum dot. Spin rotations are performed optically, by use of an intermediate charged exciton (trion) state. The two spin states and the trion form a $\Lambda$-type system. The merits of this system for quantum information processing include integrability into a solid-state device, long spin coherence time, and fast and focused optical control. In this dissertation, we study the optical decay mechanisms of the trion state in the quantum dot. Using a master-equation approach, we derive microscopically the optical decay of the three- level system and find a novel term, the so-called spontaneously generated coherence (SGC). The latter, though predicted more than a decade ago for atomic $\ Lambda$-systems satisfying certain conditions, had not been detected yet in any system. We found that in quantum dots, these conditions can be satisfied. We present the experiment which, in collaboration with our theory, constituted the first measurement of SGC. We establish the unification of SGC, polarization entanglement, and two- pathway decay. By keeping track of the spontaneously emitted photon dynamics, we find the conditions on the couplings that determine which effect will take place. We have thus placed SGC in a more quantum informational framework, characterizing it as lack of entanglement between the emitted photon and the three-level system. We develop a theory of ultrafast optical single-qubit rotations by use of 2$\pi$ pulses, which have the two-fold advantage of minimal trion excitation and negligible spin precession. The analytically solvable hyperbolic secant pulses of Rosen and Zener for the two-level system are investigated in the context of the three-level system. Ultrafast rotations about the quantum dot growth direction are designed, the angle of spin rotation is expressed analytically, and the fidelity is studied by simulations. Adaptive feedback loops are employed to correct for unintended dynamics