[angryasian]

The thing is that either side can pull out of the deal after the show. I've heard that some of these pitches and discussions can go on for an hour or more and television edits it down to 15 minutes.

[weaksauce]

Herjavick said (in his Reddit AMA iirc) that most pitches are about two hours long.

[makomk]

Originally they required contestants to give up 5% of their company just for appearing on the show, whether they got a deal or not.