The term sheet and many letters of intent cover the significant aspects of a transaction without detailing every minor aspect and contingency covered by a binding agreement. The term sheet is generally non-binding and lays the groundwork for ensuring that the parties involved in a business transaction have a “meeting of the minds” on most major elements of the deal. Understanding the salient aspects of a transaction and codifying them in the term sheet ensures that expensive legal fees and costs involved in drawing up a binding agreement or contract are not incurred prematurely. Term sheets are the foundation on which deal lawyers base their initial drafts and function as a guide in subsequent negotiations. Attend this new program to better understand how to help your clients most efficiently and effectively launch their next deal.
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