For each criterion, record a 0–5 rating. Weighted points = (rating ÷ 5) × criterion weight. A 0 means missing or materially adverse evidence; 1 weak unsupported assertion; 3 credible partial evidence; 5 independently checkable evidence specific to the buyer's decision. Score absence as unknown/0 until resolved, rather than inventing a result.
| Criterion | Weight | A 5/5 looks like | A 0–1/5 looks like | Evidence request |
|---|---|---|---|---|
| Decision and stage fit | 15 | Actual analogous seed/Series A decision work | Prestige without relevant context | 2 redacted analogous briefs |
| Constructive challenge | 20 | Shows counter-hypotheses and when own view changed | Pure reassurance or confident opinion | Dissent work sample + reference |
| Evidence and disconfirmation method | 15 | Source register, contrary data and explicit test design | Unsupported framework slides | Annotated methodology |
| Independence and conflicts | 15 | Written interests, referrals, sponsor rights and safeguards | Refuses disclosures | Signed conflict form |
| Scope, deliverables and timeliness | 10 | Fixed milestones, outputs, exclusions and deadline | Vague retainer | Written statement of work |
| Confidentiality and AI/data policy | 10 | Access, retention, AI processing and deletion documented | Blanket “trust us” | Contract schedules and policy |
| Commercial terms and exit | 5 | Fully comparable cash/equity, cancellation rules | Ambiguous total liability | Signed fee sheet / redlines |
| References and outcome honesty | 5 | Permissioned reference describing disagreement | Only unverified growth claims | Reference and attribution method |
| Boundary recognition / referrals | 5 | Seeks qualified legal/securities/finance input | Gives unqualified legal recommendations | Exclusion/escation schedule |
| Total | 100 |
ICF's ethics code provides a useful external standard for coaching sponsor, privacy and conflicts questions; the SEC's broker-dealer guidance identifies an important hard legal boundary in funding engagements. ICF Code of Ethics, effective 1 April 2025 Broker-Dealers — US SEC