[DL-Invariant]

In the article:

"Listerine also has years of comprehensive clinical research supporting the health benefits, as well as potential risks, of its use. This should greatly reduce concern around the possibility of future product lawsuits."

I should have elaborated in my previous comment - I don't think there is zero risk. When I said exceedingly unlikely, I meant as an overall material risk.

If you do hold the belief the risk is material, you can factor a scenario analysis and create a blended EV to apply to valuation approach. This would help reflect the risk when trying to price the royalties.

I appreciate the criticism! Love reading all these different perspectives.