The people making millions off Listerine royalties
The people making millions off Listerine royalties
A little-known provision in a 100-year-old contract opened up the door for private investors to mint money from mouthwash sales. For every 2,016 ounces of Listerine sold, Johnson & Johnson pays a total of $6 to Listerine’s royalty holders. The Baird Foundation’s 0.5% share in the Listerine royalty trust totals to about $120k per year in passive income. The story of the Listerine royalty trust is a cautionary tale in contract law.
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it's a wonderful precedent that the evolution of trade secret to public secret did NOT invalidate the original contract for royalties.
it's also nice to see some of those royalties going to non-profits, but overall, the picture still paints one of a society of increasing the wealth gap as opposed to finding a more sustainable distribution.
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