Radio Silence

When negotiating a term sheet or a biz dev deal, it’s important to keep in mind that the end goal of the negotiation is establishing a partnership. This is very different from, say, buying a house, where post-closing, you (hopefully) have nothing to do with the seller. For a partnership to get off to a good start, it helps for both parties to feel good about the process of the negotiation. I have found that an important ingredient is to set realistic expectations about how long it will take you to respond to a new draft or a set of questions.

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