Advice on partnership with a large firm.
subbu: I was in a similar position 2 years back. The only difference between you and me(then) is I didn't have an application ready. I just had the idea.This company (a smaller one though..I was working with them as a full-time employee) was interested in my idea. They accepted my proposal. My terms were, I'll build the app, they will fund the development, they get exclusive rights to sell in Australia in exchange and I'll keep the rest along with IP. But they wanted to have exclusive rights all over the world. I said yes because I didn't understand what those exclusive rights were...heheBut they still walked out of the deal because:1. They thought they would have to spend double the amount  on maintaining the application after I developed the first version. I never understood those terms though.2. They thought it was too risky to trust an individual developer over a registered company.What I understood from the discussions was: they wanted me to develop the application, take some money for the time I spent developing it, hand-over the source and then walk away from it. Exclusivity meant walking away.So the deal didn't happen. But I haven't given up on my idea yet. I have started developing it after a gap of one year. I still like the idea even after one year gap. The only problem is I haven't completed it even after 2 years :) I am getting closer to it. I don't know when I'll complete it though. But I am not in a hurry because nobody is funding it.