Bad Breath Offers a Rare Payoff in Listerine-Royalty Stake Sale
- Makers of mouthwash have been paying royalties for 140 years
- Auction offers a slice of American history and perpetual cash
Source: The Indianapolis Times/Library of Congress
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A rare item has hit the auction block: an investment guaranteed to pay as long as people fret over bad breath.
Bids are being taken through Tuesday on a share of royalties backed by Listerine mouthwash sales. They stem from contracts signed 140 years ago by its inventor and still cited in business law classes that require the maker -- currently Johnson & Johnson -- to pay shareholders in perpetuity.