[jalonso510]

When term sheets say they are non-binding, they will usually say "except the sections about confidentiality and exclusivity". So those will be the only parts that actually are enforceable promises.

But the exclusivity period is typically 30-45 days. There would have needed to be some particular reason for six months, given how far off-market it is.

[CalChris]

Thanks. No shop. It is, in fact, spelled out in the NVCA model term sheet. Still, why SoftBank would ask for 6 months is a conundrum.