My team and I have bootstrapped our way through a beta test since the start of the year (i.e. we've spent a low 5 figure amount). The results are limited but very strong, and they've attracted the interest of a Fortune 500 company that's considering giving us our full raise (a high 6 figure amount). We keep hearing how we need to be careful about not being taken to the cleaners, but what exactly should we be on the lookout for? There's an NDA in place but nothing outside of that.
Other related questions:
- Should we offer both note and equity options, or just stick with one?
- Can we ask to be offered more money in the future if we reach certain performance milestones?
- What can we expect out of due diligence outside of showing them any legal documents? How can they verify our existing revenue streams?