My partner Albert has a great short post up on Radio Silence.
I have found that an important ingredient is to set realistic
expectations about how long it will take you to respond to a new draft
or a set of questions. Don’t say “we will get back to you tomorrow” if
you already know that your lawyer is traveling and it will take you
three days to get back…. Often the net result of that
are several days of “radio silence.” During this time the other side
will start to ponder and more likely than not draw all the worst
possible conclusions (“they are stalling”, “they are shopping the
deal”, “they want to recut the deal”).
I’ve often said that a venture investment is like a marriage and the negotiation is like the engagement. So this is important stuff to get right.