Innovation Pharmaceuticals Inc (IPIX)

[Pipilongstocking]

In commercial real estate, a signed non binding term sheet is a big deal. These are the main business terms that are incorporated into a lengthy lease. Most of my deals don't fall apart during this process- both parties typically work in good faith while negotiating the lease but the basic business terms remain the same (rarely do they change). Without the non binding term sheet, a Landlord isn't going to spend money with their attorneys, etc. preparing and negotiating a lease.