We published a really special topic page today: the Term Sheet Guide.
We have many publicly available term sheets on Docracy, including forms from Series Seed, Techstars and Foundry Group. The thing is, a term sheet is a fairly complicated legal affair, and we felt like there was a need for some comprehensive, entrepreneur-friendly explanation. Therefore, we put together this rich, clear and detailed guide to term sheets and venture capital funding, from the point of view of the entrepreneur.
It features an in-depth look at the main provisions, with sample language and links to the best blog posts on the topic. It includes useful definitions of technical terms, and a “checklist” to go through to make sure your term sheet is a fair deal. It’s a pretty long document, so you might want to download it in PDF form and study it via your device of choice, for free.
We believe this is a great, highly-needed resource for the startup community. We promise to keep it updated, with your help as well: share comments and suggestion in the comments!