What is BATNA?
Best alternative to a negotiated agreement, the walk-away option that sets a party's true leverage. In a raise, a second live term sheet is a founder's BATNA.
Where you will use it: this term comes up in the Entrepreneurial Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Entrepreneurial Finance course by Devon Coombs, CPA, MBA.