“Term Sheets: The Deal Begins”
2009 LES USA & Canada Annual Meeting
Pamela L. Cox, Practice Manager, IP Transactions, along with Wally Oliver, Esq. an IP Legal Consultant and Himanshu Vyas, IP Counsel for William Wrigley Jr. Company, are teaching a 300-level professional development CLE workshop entitled “Term Sheets: The Deal Begins,” Wednesday, October 21, 2:00–5:00 p.m., during the 2009 LES USA & Canada Annual Meeting.
Before there is a deal, there are terms to be negotiated. But what terms? How do parties begin to structure a deal that can be implemented? Many licensing negotiations begin with a term sheet, which is used to guide and focus the negotiation process. The effective use of term sheets can save hours of drafting time and set the tone for a productive working relationship between the parties. This workshop presents practical uses of term sheets, including when to use and when not to use a term sheet; what to include and what not to include; the level of desired detail; and identifying risks of "agreeing to" a term sheet. A hands-on exercise will explore strategies for negotiating and how to come to a deal using a term sheet.