4 ms·
There's almost never a timeliness clause in the right of first refusal (ROFS) section. They can simply choose to ignore your request...indefinitely.
by scurvy 11y ago
There's almost never a timeliness clause in the right of first refusal (ROFS) section. They can simply choose to ignore your request...indefinitely.
- dwaltrip 11y agoThat seems like a pretty lame loophole. Is that the crux of the method for preventing secondary markets?
- mifreewil 11y agoThat may be standard, I'm not really sure, just remember everything is negotiable.
- gyardley 11y agoEvery right of first refusal clause I've ever been subjected to or subjected others to has had a thirty day deadline, so I don't think this is accurate. It's unlikely that the set of companies I worked for / founded was that unrepresentative. Mind you, when I did do a sale on the secondary market, it always took the full thirty days for the company to approve.