Jobs stayed, conceding that point.
Lasseter was riveted as he watched the two wiry and tightly wound principals parry and thrust.
"Just to see Steve and Jeffrey go at it, I was in awe," he recalled.
"It was like a fencing match. They were both masters."
But Katzenberg went into the match with a saber, Jobs with a mere foil.
Pixar was on the verge of bankruptcy and needed a deal with Disney far more than Disney needed a deal with Pixar.
Plus, Disney could afford to finance the whole enterprise, and Pixar couldn't.
The result was a deal, struck in May 1991, by which Disney would own the picture and its characters outright,
have creative control, and pay Pixar about 12.5% of the ticket revenues.
It had the option (but not the obligation) to do Pixar's next two films
and the right to make (with or without Pixar) sequels using the characters in the film.
Disney could also kill the film at any time with only a small penalty.