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Dictionary by pitch.dog
Commercial terms & deal structure · Core

Initial term

Also called: base term

ELI5

The first committed duration of an agreement before renewal.

Used in conversation

“Counsel wants initial term clarified before anyone signs.”

Pitch context

You will see “Initial term” in go-to-market plans, sales forecasts, account reviews and commercial proposals when the discussion reaches commercial terms & deal structure.

Why it matters: In commercial terms & deal structure, a loose definition can change rights, obligations, approval, disclosure or enforceability.

Caution

Meaning, enforceability and required process vary by jurisdiction and agreement; this definition is not legal advice.

When the words have to travel

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Sources & evidence · 3

Direct term-level sources and supporting source families.