Do not treat initial outreach as a complete description of the opportunity. Keep the discussion factual, avoid making commitments, and first understand what the buyer is asking to evaluate.
Gather: who contacted you, the stated use case, what information they requested, any proposed timeline, and the terms they have put in writing.
Review: permitted use, exclusivity, sublicensing, derivatives, payment conditions, confidentiality, diligence burden, and the ability to keep other options open.
Counsel should advise on legal, privacy, and contractual obligations. A seller-side assessment can help ensure those questions are asked before commercial terms are accepted or information is shared.
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