I can't offer any absolutes, but I would recommend that you continue a conversation with them before quoting a price.
Try to determine (estimate) their budget. You'd be surprised at how easily corporate employees will reveal budget.
Then charge a percentage of that budget.
Alternatively, try to figure out their internal cost estimates/budget for your component. Then double that.
You have a ton of negotiating room, but always do it as a percentage of what they were expecting to spend on the project/your component.
In my (light) experience, I've always at least doubled the amount of money coming in. Working with a corporation is a different beast than directly estimating value delivered / standard consumer stuff.
Try to determine (estimate) their budget. You'd be surprised at how easily corporate employees will reveal budget.
Then charge a percentage of that budget.
Alternatively, try to figure out their internal cost estimates/budget for your component. Then double that.
You have a ton of negotiating room, but always do it as a percentage of what they were expecting to spend on the project/your component.
In my (light) experience, I've always at least doubled the amount of money coming in. Working with a corporation is a different beast than directly estimating value delivered / standard consumer stuff.