Partnership evaluation without the excitement

We're considering a partnership with {{partner}}: {{describe proposed structure}}. Our situation: {{stage, priorities}}.

Evaluate coldly:
1. What does each side actually get, quantified where possible? If the value to us isn't quantifiable, say so.
2. Who needs this more? What does that asymmetry mean for the terms?
3. What does this cost us in engineering time, support load, roadmap distortion, and channel conflict — not just in revenue share?
4. Dependency risk: what happens to us if they change priorities, get acquired, or build this themselves? How reversible is the integration?
5. Exclusivity, data access, and IP: which clauses would we regret in two years?
6. What's the smallest version we could run for 90 days to learn the same things?
7. Recommendation, plus the three questions to ask them before signing anything, and the answer that should make us walk.

Assume the deck they sent overstates their distribution. Tell me what to verify.