| Someone here derided the idea of declining to do business with people you don't trust: "...modern financial and legal infra-structure is designed so that we can make business with people we don't trust." Since the beginning of mankind the world has been full of people who will take advantage of others who are not as smart or experienced or powerful as they are. It's not always easy to discern these kinds of people. Some are very smooth and skilled manipulators. You describe yourselves as "young founders". I suggest you seek out someone "old" (over 50) who you know well and whose judgement you trust, and ask them for counsel. I'm not necessarily referring to business or legal counsel, I'm talking about someone who's been around the mountain enough times that they can discern when someone is trying to blow smoke up your dress. It should be someone who has your best interest at heart. Maybe your own father or grandfather might be a good choice. I am not being condescending about you being young and inexperienced. Nobody is born knowing everything. I'm old now, but I was young once, and I remember how it was. Get someone with the long fangs of many years who is on your side. Bring him to meetings with this company's people, introduce him simply as one of your "advisors". He doesn't need to say anything in the meetings, he may just observe and listen, and perhaps ask a few questions which unmask any propaganda. I've been doing consulting for 30 years. When contemplating a job, if I don't have enough trust in the client's integrity (and he in me) that I feel we could do the deal on nothing more than a handshake, I'll walk away. For most jobs I do have a paper contract, because having things written down is good, but I don't expect any contract to turn a snake into a good guy. If someone is intent on cheating you, all the contracts in the world aren't going to make much difference. Over the years I've ignored my snake radar a few times, and in each case I regretted it. Any contract must be equitable. What you've described so far sounds rather inequitable. Consider what that might indicate about the integrity and good faith of your potential purchasers. As someone else here said, a bad deal is far worse than no deal. You may think this is the only offer you will ever get, but you don't know that. Many amazing things can happen in life which you would never have imagined. |