Advice on licensing

I'm looking for advice on licensing terms. In short, there is a board game I'm re-writing for T2D and I've contacted the rights owner about obtaining a license. As I've not done commercial game development before, much less a licensed one, I'm in new water when it comes to this. I'd rather not go into specifics as nothing is settled at this point (hence my question!), but if anyone who does have experience would like to weigh in I'd appreciate it. Anything that would be more appropriate off-forums please contact me at drakki@fidmail.com

Tim Doty