zlacker

For such a basic action as a board exercising one of the most fundamental of its rights, I don't think it's necessary to spend 100K hours. And I don't think the board consulted to random lawyers off the street.

> Someone signed that term sheet.

Do you think that the term sheet holds OpenAI liable for changes in Microsoft's stock price?

>>laserl+(OP)
The board folded.

> Do you think that the term sheet holds OpenAI liable for changes in Microsoft's stock price?

There’s nothing binding on a term sheet.

>>peyton+F
> There’s nothing binding on a term sheet.

The confidentiality part and the 'no shop' part of a terms sheet are definitely binding and if you break those terms you'll be liable for damages.