From the course: Business Development Foundations: Alliances & Partnerships
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Develop a deal term sheet
From the course: Business Development Foundations: Alliances & Partnerships
Develop a deal term sheet
- A term sheet is defined by Investopedia as a non-binding agreement that sets out the basic terms and conditions of a proposed business relationship between two companies. It can be used as a starting point for a merger, acquisition, joint venture, business alliance or partnership. In addition to basic information like the names of the parties and the nature of the transaction, the term sheet lists out the commitments on both sides. This includes but is not limited to the obligations of each company, financial terms, and timing of the transaction, as well as the legalese, the representations and warranties made by each participant. The term sheet is an important tool for both companies involved in a transaction. It helps to ensure that the parties are on the same page about the key terms of the deal. And it can help to prevent misunderstandings and disputes down the road. You don't need to get fancy when creating a term…
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