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They have provided an initial term sheet for purchase of the application in its entirety for $750,000. It is general counsel’s recommendation that we reject this initial offer.”“All those in favor of rejecting the offer?” I asked. We all raised our hand. “Please note the board has rejected the offer unanimously.”Kelly made a note and Jim jumped into the conversation.“I think we should reply with a significant counter proposal for them to review before we meet with them.”“What sort of counter?”“Five million up-front for usage rights and a five dollar per vehicle licensing fee.”Mother gasped. I was a little stunned as well.“Can we get that?”Jim chuckled. “Probably not, but I can at least back up that valuation if the patent is granted. They would spend twice that up-front on R&D to devise an alternative that did not infringe on your work.”I sat back and thought for a few minutes. Finally, “I propose to the board that we authorize our General Counsel to open negotiations with Powell,. I took the bus to Ogden, Utah and arrived at the bus depot near grandma's on a hot June evening. It was sweltering. Grandma picked me up in her old car, glad to see me (she lived alone) and glad to have a "man" around the house to look after things. Although she was roughly 68 years old, her body was one of a strong, vibrant woman much younger. Her hair wasn't totally white yet (it was still mostly dark)and her body seemed strong and firm compared to other women her age. She was a bit large-boned and had large breasts, thighs and buttocks. But as near as I could tell, she was not too jiggly like other older women.I sat at her kitchen table upon arriving at her old-fashioned three bedroom home; she let me have some lemonade to cool off, asked me about my trip and then said it was late so she would be going to bed. She said that due to the heat, she would leave the fan on in the hall and leave her bedroom door open. My room was just across the hall from hers and she told me I might.
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