"I will give you one million dollars cash for your alternating-current patents, plus royalty," Westinghouse told Tesla
"If you will make the royalty one dollar per horsepower, I will accept the offer," Tesla replied. "A million cash, a dollar a horsepower royalty," Westinghouse repeated. "That is acceptable," said Tesla. "Sold," said Westinghouse. "You will receive a check and a contract in a few days." The conversation between Tesla and Westinghouse about the contract they made. After hearing Tesla's lecture given to the AIEE, Westinghouse offered him a contract for his patents involving the AC polyphase system. $70,000, and a very generous royalty of $2.50 for each generated horsepower from an AC motor, made from Westinghouse electric .
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“ I have just the drawings and descriptions of an electrical machine lately patented by a Mr. Tesla and sold to the Westinginghouse company, which will revolutionize the world. It is the most valuable patent since the telephone.”
November 1888 Mark Twain’s diary |