According to a report by Common Paper of 1,000 businesses, commercial agreements take a median of 3 to 4 days to sign depending on the size of the company. Enterprise companies take longer (as expected), but the amount is only 40% longer than SMBs.
Based on personal experience, this feels way too low.
Links to this note
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A collection of benchmarks for B2B businesses (mostly relevant for early-stage SaaS).