In a term sheet, there is commonly a requirement for temporary exclusivity that requires one or both parties to negotiate exclusively with the other for a limited time or under certain conditions so that the investment of resources and time into due diligence and negotiations intended to finalize the agreement does not get interrupted or wasted because of an interloping offer.
Many thanks to Liza Hadley and the team at Izba for their contributions to this article. 1. You are never too small for a commercial contract Commercial contracts help define…
A serious buyer for your company is likely to present you with heads of terms (also known as a letter of intent, memoranda of understanding or term sheet) covering…
Focus on what’s important, negotiate and resolve the important points early, get the deal closed as quickly as possible and get back to growing the company. When you receive a…
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