4 ms·
Oh boy. Find an attorney now. Or you will regret it heavily in the future. DO NOT give them any information yet (like weather or not you're a registered company
by ChrisNorstrom 10y ago
Oh boy. Find an attorney now. Or you will regret it heavily in the future. DO NOT give them any information yet (like weather or not you're a registered company, or have any patents, etc...) until you find a professional to consult with.
#1 You have something they want. Understand that. You are on their radar. They can either clone your project, or buy it, whichever is cheaper for them legally and financially. How you negotiate with them will determine weather these people will be a partner, a buyer, or a competitor, or enemy.
#2 Probably they want your idea and are giving you a tiny amount of money for it, thinking $10k is going to impress you. When really your project is worth a lot more once they monetize it. If you ask them for too much they won't bother dealing with you unless they really want what you've got.
#3 They might even want your domain, or you to join their team. Equi-hiring style. Are they asking you to continue working on the project?
If you don't sell to them or offer too high a buying price, they will clone and compete with you. Are you ok with that?
Consult with a professional, this is a must. ===> MUST < ===. They WILL have lawyers drafting up the contracts, you do NOT want to get screwed. I work in a law office myself and have seen so many people get screwed on good deals (regardless of the industry) because they thought they could "do it themselves for cheap". A lawyer can help negotiate a fair deal where they give you not only cash up front but also a percentage of stock or revenue or royalties on the product they buy from you. That way they don't give you pennies for a business that might make millions later.
- jimmaswell 10y ago#2: Of course they think it's ultimately worth more than they're offering because you wouldn't buy something if the ROI was negative. I'd personally just not deal with all the uncertainty and negotiating, and just take the offer.