Ms. Nesmith is the mother of Mike Nesmith, the only person in the Monkees with any real talent. (The Monkees were a band "created" by one of the networks in the late 60's to cash in on the popularity of the Beatles)
She invented the product and sold it a bottle at a time until Gillette purchased her company in 1979 for $48 million, when it was generating $38 million in sales. Nowadays, the new BIC Wite-Out pencils work a lot better than the liquid paper in a bottle which tends to get dried out and form clumps.