|Thanks, but no thanks.|
I have a friend who recently turned down an offer of publication. At first I thought she was crazy. Who in their right mind would turn down an offer of publication? Then she explained the situation to me and I began to understand.
In her case, the small, independent publisher wasn't offering a whole lot for what she was giving up (lifetime rights with no clear reversion clause). She decided she would be better off trying to find someone else or, perhaps, someday going it on her own.
Why would you turn down an offer of publication? Have you done it before?