• Source link: https://bothsidesofthetable.com/a-quick-hack-for-speeding-up-term-sheet-and-other-negotiations-518912fc0b24
• TL;DR: Term sheet negotiations can take weeks to complete. If you can get everyone to agree to it, fly all parties out to a single location and get it finished in a few days. You can all be in the room together working out the details and the process moves along much faster.
• How helpful?: 3/5
• Topic Tags: efficiency, term sheet, negotiations,
• Relevant questions addressed: Why do term sheet negotiations take such a long time? How can I speed up this process?
• Summary bullet points
• Getting a term sheet can be an excruciatingly inefficient process
  • Between the founder, the VC, the founder’s lawyers, and the VC’s lawyers, the back-and-forth sending of documents, marking them up, and re-marking them up can end up losing the company a lot of time and costing a lot of money.
  • This process can be even longer once you get ready to sign formal legal documents
• Mark Suster suggests having a “Signing Party”
  • Made every party involved with a project fly to a single location, stay in a hotel together, and work over the details of the deal until everyone was satisfied
  • Makes the process exponentially faster
  • Paying for everyone’s flights/hotel is a small fee to pay for all of the time, frustration, and potential legal fees you save
  • Can be difficult to get everyone to agree to come
• Follow up links