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I. Practical Considerations

A. Your client wants to talk to XYZ Corp. tomorrow about a “deal.” He wants a “piece of paper” from you. What do you do? Ask questions!

1. Who is XYZ? What do they do? 2. Is XYZ public or private? 3. Why do you want to talk to them? 4. What do you expect to get from them? 5. What market affected? 6. Size of market affected? 7. Who else in the company knows about this?

B. Your client wants to go anyway! You should:

1. Draft a Confidentiality Agreement. 2. Prepare a “no authority” letter. Exploration discussions only until definitive agreement signed. Call it “Interim Negotiation Letter” or something with a “temporary” flavor. Make sure it includes a disclaimer of a final agreement (see Exhibit A). 3. Convince your client to take you along.

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