My name is Randy and my business partner and I have created a line of products for iPod, submitted a patent, and began selling low production models over the net and to some specialty shops that are having great success re-selling the product.
Recently we were approached by an existing company to discuss partnering to get the products mass produced and distributed. Basically we would be responsible for producing new prototypes, marketing, and sales while they would handle the cost of producing and distributing.
My question is what kind or percentage of ownership is this worth? How can we be sure that they can and will do what they say they will? Now that we have a solid proof of concept should we look at angel investors again?
Thanks in advance for your input.