I think the standard is to evaluate in terms of valuation? So if you give up 10% for $500,000 you are setting a valuation of $5M, so 1% for $500,000 -> $50M val

I think the standard is to evaluate in terms of valuation? So if you give up 10% for $500,000 you are setting a valuation of $5M, so 1% for $500,000 -> $50M valuation, etc.