Edison Nation will negotiate on your behalf if you make it to the finalist stage (stage 7) as I explained in my article. If it is selected by a manufacture (stage 8), then you will be notified of the progress and you will know exactly what is being offered.
Generally Edison Nation works out a deal where you receive royalty payments, shared with Edison Nation.
I can’t comment on a buyout or cash advance, but if you want to know if that happens and how it’s handled, I suggest you join Edison Nation. Then you will be able to ask questions in their forum about those types of issues.
See my article again in case you missed anything. See the section on “You Can Be an Insider With Edison Nation” – I have a lot of information there about membership.