Term Sheet
Categories: Board of Directors, Regulations, Investing
A piece of paper that sets out terms of a deal. Sometimes on a napkin.
Even if on a napkin, it can be legally binding, so stay away from napkins and other pieces of paper unless you're really sure you want the deal and agree to the terms.
Example
I invest $1,000,000.00 in you.com today.
In return, I get:
- 51% of your company
- your lungs
- your liver
- your soul
Thank you.
Sincerely,
Mr. Faust