Two parties agree to work together. Everyone is enthusiastic. Someone suggests getting the lawyers to draft something, and eight weeks later the first draft arrives at forty pages with every fundamental question still open.
Now the negotiation happens inside the long-form document, clause by clause, at full cost. Positions harden. What could have been settled in a meeting becomes a redline war.
Or worse — the MOU that was signed to keep things moving turns out to be binding in ways nobody intended, and one party is committed to terms they thought were preliminary.
Joint Venture Term Sheet and Memorandum of Understanding
A term sheet, memorandum of understanding, heads of terms or letter of intent records the commercial shape of a deal before the definitive agreement is drafted — and states clearly which parts are binding and which are not, so no one is committed by accident.
Your Vision, Backed by the Right Legal Support
You build the business. We help you protect it.
Imagine a two-page document both sides sign in a week. Contribution, shareholding, control, funding, exit — all settled. The long-form drafting then becomes execution rather than negotiation, and it costs a fraction of what it would have.
Who this service is for
This Is For You If…
Joint venture partners agreeing the shape of a venture
Buyers and sellers settling headline terms before diligence
Investors and founders agreeing an investment before documentation
Parties tendering or bidding together who need to fix terms quickly
Anyone asked to sign an MOU and unsure what it actually commits them to
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What we will do for you
This is what we will do for you
<ul><li>Draw out the commercial terms that must be agreed before drafting begins</li><li>Draft the term sheet or MOU in plain, unambiguous language</li><li>State expressly which provisions bind and which do not</li><li>Cover exclusivity, confidentiality and costs where they should bind</li><li>Carry the agreed terms straight into the definitive agreement</li></ul>
What’s Included
What’s Included in our service for you
Working session to surface the terms that actually need settling
Drafted term sheet, MOU, heads of terms or letter of intent
Clear binding and non-binding provisions
Exclusivity, confidentiality and cost provisions where appropriate
Handover into the definitive agreement drafting
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Why Choose Legal That Works?
Why Choose Us To Assist You?
Digital-first
No office visit required—review and sign online
Transparent fees
Fixed price, no billing surprises
Deep experience
Various contracts across industries
Accessible
Our client portal keeps you informed
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We've Helped
You Need To Act Now
Important: Limited Slots
Every fundamental term left out of the term sheet gets negotiated later at long-form drafting rates, with less goodwill in the room.
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Nothing to Lose. Everything to Protect.
No Surprises. No Guesswork. Just Legal That Works.
Before anything starts, we speak with you to understand your business and make sure the service is the right fit. If it is not, we will say so upfront. No pressure. No wasted time. We only take on matters we are confident we can deliver with quality. That is why business owners trust us to get it right.
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Frequently Asked Questions
What is Legal That Works?
Legal That Works is a digital-first legal service designed by ASCO LAW (Messrs Akmal Saufi & Co) specifically for business owners and founders. We help you structure, grow, and protect your business through practical legal solutions—delivered fast, in plain English & Bahasa Malaysia, and with no office visit required.
What if I’m not sure what legal service I need?
No problem. Most business owners aren’t legal experts! Just reach out. Our team will guide you to the right service or help you understand your options—without jargon or upselling.
Is an MOU legally binding?
Parts of it usually are and parts usually are not — and that mix is exactly what needs to be stated expressly. An MOU that is silent on the point is a genuine risk.
Can we skip the term sheet and go straight to the agreement?
You can, and for simple deals it may be right. For anything with several open commercial questions it usually costs more, not less.
What should a joint venture term sheet cover?
At minimum: contributions, shareholding, board and voting, funding obligations, deadlock, transfer restrictions and exit. Everything else can follow.
How long does one take to prepare?
Days rather than weeks, once you know your commercial position. Much of our time goes into helping you work that out.
The other side sent us their term sheet. Can you review it?
Yes, and that review is often the highest-value hour in the whole transaction.
Are your services affordable?
Our transparent fee structure means no billing surprises. Membership unlocks the best rates, but even one-off services are designed to be clear and competitive. You’ll always know what you pay.
Who will be helping me?
All our services are delivered by our licensed lawyers under the Malaysian Bar with proven experience across industries. You’ll work with a real legal team, not chatbots or generic customer support.
Is everything done online?
Yes. Our service is fully digital. You can consult, review documents, sign agreements, and access your files securely from anywhere. No office visit required unless you want to meet in person. No office visit is required. If you require us to attend at your office or outside meetings, additional charges will apply.
What’s the difference between One-Off Service and Membership?
(1) One-Off Service: Pay for what you need, when you need it. Perfect for single transactions or urgent matters (2) Membership: Subscribe for ongoing access, priority support, and special pricing. Membership means you get a legal partner who truly understands your business.
