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Step 4 needs to be: The investor replies with Yes within 96 hours. Otherwise it's the equivalent of having one party execute a contract, and the other party j
by preinheimer 14y ago
Step 4 needs to be:
The investor replies with Yes within 96 hours.
Otherwise it's the equivalent of having one party execute a contract, and the other party just sit on the contract to wait for more information. Either executing if it's clearly beneficial, or ignoring if it's not.
- ghshephard 14y agoIf this is a handshake deal - then doesn't the investor reply yes immediately? It would be nice if those who are more knowledgeable than I would weigh in and indicate whether these things happen in real-time. I.E. The "Handshake" deal takes place within the space of a few minutes. g.
- preinheimer 14y agoThe conversation seems to happen in real time, then flips over to email for a written record. Without a defined expiry it's not clear what happens if the investor says "yes" two months later after the startup receives some fantastic press.