How do you license something that is not patented?
Why would anyone pay license fees when they can buy one machine and then copy it with no repercussions and not have to pay fees?
This 'Term Sheet' is novel though. OTCBB's used to use 'Letters of Intent', but I suppose this is the latest spin mechanism. It is neat though, how the companies involved avoid any true disclosures because a 'Term Letter' is not a 'material agreement' that requires an SEC filing.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.