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Update 2/28:

Thank you all for your comments. I did receive an updated offer letter today that writes out that the minimum revenue in year one will be $50K. There is no revenue share after year one so I just asked if a revenue share can be provided after year one.

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Yeah, I couldn't tell whether "1-year revenue share" meant annual or one-time. Since it's one-time, I don't know why you even entertained it.

Yeah, when we spoke over the phone there was no mention of a revenue share time period. It was only after I received the written offer that they stipulated revenue share is granted for the first 365 days. I did ask them if there are opportunities to extend the revenue share beyond 1 year but no response yet.

What would happen if they took your stuff and fire you after 2 weeks? E.g., they do not sound like they are paying at all for your assets - what are they paying for? Employing you as an engineer? The niche product you are offering? What you describe raises so many questionmarks and red flags tbh.

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