1. Exclusivity: Used when parties agree not to negotiate with others for a specified period - include when exclusive negotiations are required

2. Costs and Expenses: Include when there's a need to specify who bears the costs of negotiations and due diligence

3. Due Diligence: Add when specific due diligence requirements or processes need to be outlined

4. Regulatory Approvals: Include when the proposed transaction requires regulatory or governmental approvals

5. Break Fee: Used when parties want to specify penalties for withdrawing from negotiations - rare in educational context

6. Intellectual Property Protection: Include when discussions involve sharing of intellectual property or proprietary information

7. Press Releases/Public Announcements: Add when there's a need to control public communications about the potential arrangement

1. Term Sheet: Detailed outline of the key commercial terms and conditions proposed for the final agreement

2. Timeline Schedule: Detailed breakdown of proposed milestones, deadlines, and key dates

3. Required Approvals: List of necessary internal and external approvals needed to proceed

4. Key Personnel: List of key contacts and their roles in the negotiation process