Glossary · Deal process
Exclusivity period (no-shop)
A window where you agree not to run a competing fundraising process while one investor diligences you. It focuses energy on closing instead of shopping every term sheet at once.
Related: Term sheet · Due diligence · Lead investor
A bit more nuance▾
- Also called a no-shop; length and carve-outs should be readable in plain language.
- If a deal falls through, calendar how fast you can reopen conversations.
Go deeper▾
Discussion questions▾
- How long is fair no-shop for the depth of diligence they are doing?
- What would you do if the clock runs out before close?
Educational reference only — not legal, tax, or investment advice. Terms vary by country and deal; ask a qualified professional when it matters.