This is a long shot, and idk if this is a thing, but I have reason to believe that this idea might work... If we pitch to our competitor (who is the #1 seller of this product and we're the only other player in the market right now who they publicly acknowledge as such) that we will dissolve our company and agree not to start another one if they give us let's say a million dollars (they sell in the millions per year and have gotten 5 million in funding since 2014)... How likely is that to happen and how would I approach them?

I know we could offer to sell our company to them, but lets say that's not possible for the sake of this question.