re: What if you have something, that is worth a million bucks?

quote:

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It is a unique piece of mental property, nobody knows all of it but me.

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Make sure both of you are prepared





On a more serious note, intellectual property is best served by a good lawyer who specializes in the intellectual property you are trying to protect.

As to worth, how do you know it has a FCV of 1,000,000?
Actual contractual offer, pie in sky estimate, or other?

As to what you take for it
Royalties, which can end with patent expiration
Straight cash
Trade
Stock

If you have kids and your purchaser is fairly stable taking it in stock - especially over time if it helps with taxes may be the best way to go. Getting stock in a steady dividend grower was the best deal for 2 folks I worked for. 1 sold to AT&T in the 40's and became very wealthy just holding AT&T stock. Other did similar in the 1950's with P&G stock.