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{{quote|“Oh cripes that time line is hyper-aggressive, and this could all go totally [[pear-shaped]]. We don’t have ''time'' for a [[term-sheet]]; let’s just crack on and go straight to docs.”<ref>Imagine a privately-educated, Oxbridge-graduated north-London accent saying “pear-shaped” and “crack on” if you please.</ref>}} | {{quote|“Oh cripes that time line is hyper-aggressive, and this could all go totally [[pear-shaped]]. We don’t have ''time'' for a [[term-sheet]]; let’s just crack on and go straight to docs.”<ref>Imagine a privately-educated, Oxbridge-graduated north-London accent saying “pear-shaped” and “crack on” if you please.</ref>}} | ||
Look: if you are doing something easy and homogenous like an [[NDA]], ''maybe'' there is some sense in that — though none in engaging a [[private practice lawyer]] to do an [[NDA]] in the first place, of course. (What are you | Look: if you are doing something easy and homogenous like an [[NDA]], ''maybe'' there is some sense in that — though none in engaging a [[private practice lawyer]] to do an [[NDA]] in the first place, of course. (What are you, ''mad''? Go [[OneNDA]]!) | ||
In any situation where engaging [[external counsel]] ''does'' make sense, then dispensing with a [[termsheet]] is a charter for ''utter disaster''. The main commercial points of any arrangement are generally few, easily articulated, and well-suited to clipped adumbration in a table: like a [[termsheet]]. They can, then, be attacked, haggled over, articulated, refined, and beaten to a fine copper plate ''in the abstract'', by the business principles, quickly and without ceremony. They can arrive at agreed terms without incurring legal expense. By this stage, the heat has gone out of the negotiation: the principles are done, the principles just want to get on with it. Each will, therefore, urge its own counsel on with the following words: | In any situation where engaging [[external counsel]] ''does'' make sense, then dispensing with a [[termsheet]] is a charter for ''utter disaster''. The main commercial points of any arrangement are generally few, easily articulated, and well-suited to clipped adumbration in a table: like a [[termsheet]]. They can, then, be attacked, haggled over, articulated, refined, and beaten to a fine copper plate ''in the abstract'', by the business principles, quickly and without ceremony. They can arrive at agreed terms without incurring legal expense. By this stage, the heat has gone out of the negotiation: the principles are done, the principles just want to get on with it. Each will, therefore, urge its own counsel on with the following words: | ||