What’s the best way to negotiate the sale of your company?

Justin Kan (Partner at Y Combinator)
The Founder’s Guide To Selling Your Company

Sometimes, a company you are doing a critical business development partnership with will insist on a “cool down period” in an agreement. This is a period of time during which you have to wait once you’ve received an acquisition offer before you can sign (for your partner to theoretically prepare a better counter offer). Cool down clauses can actually work in your favor as a way to acquire additional offers once you’ve received a first term sheet.