How to best partner with another company? entrepreneur how earn by blogging blog

I'm doing a Virtual Reality startup company, I'm the CEO in an LLC partnership. My startup will sell subscription model dance lessons in VR with continuous content update. As you can imagine, it'll be a while until I see revenue, let alone profit, but dance and VR are my passions.

An industrial sector marketing company saw my dance demo by chance and they were impressed, so we started brainstorming about offering services to their clients. I created some demos for them to show around, and eventually they brought me along to their big conferences. They are great at everything I suck at: marketing, networking, getting leads, conversion, sales, etc. Their clients are really big, the kind that you get access to only after years of networking.

So, we talked about partnership. They want me to raise their valuation by adding a new VR/AR division to their company. In return I would get a % of their company acquisition price. They're looking at a minimum $10M acquisition, and 5% has been casually mentioned. I assume I would need to raise their valuation more than that for this to work.

So, a few questions (I understand I'll need to talk to a lawyer, but I want some perspective first):

1. What's the best way to achieve this partnership? Do I as a person become a stock holder on their company? Or would it be through a contract between companies?
2. I assume if I own a percent I won't get a pay day until the very end?
3. How to protect myself from devaluation of their company for external reasons?
4. Should I initially offer my services for a fee? I'd like some cash inflow for my VR dance company, and it'd be nice to be out of the red, but I don't know how investors would take "Dance VR company is profitable because of somewhat-unrelated-services"

Thanks!

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