Use a quoted or explicitly hypothetical gross receipt, then expose every deduction. The following is an illustrative arithmetic exercise only, with no asserted market price or probability.
| Item | Direct route | Managed partner route |
|---|---|---|
| Assumed collected licence receipts | $120,000 | $150,000 |
| Assumed partner percentage | 0% | 20% |
| Partner fee | $0 | $30,000 |
| Assumed legal and preparation spending | $35,000 | $25,000 |
| Assumed delivery and support spending | $10,000 | $10,000 |
| Net contribution before internal overhead and tax | $75,000 | $85,000 |
The managed route wins by $10,000 under these assumptions only. If both routes collect $120,000, its contribution falls to $61,000. That sensitivity matters more than a claim that either route always maximises income.
Add separate lines for minimum guarantees, recoupment, credits, withholding, bad debt and contributor shares where applicable. Do not deduct the same preparation invoice twice if it is recouped through the partner statement. Model cash by month, since a signed licence may not fund preparation when the invoice is due.
For exclusivity, document the alternatives excluded, their evidence level and whether a narrower grant could preserve them. Do not manufacture an “opportunity cost” from speculative deals. Where no credible alternative exists, record the value as unknown and negotiate duration or release gates instead of false precision.