The US National Venture Capital Association published a term sheet template that is widely used by founders & VCs.
Contrary to Y Combinator’s template, it’s much longer and more detailed.
The template also includes variations on some clauses, which clearly shows there is leeway for negotiation.
Read through it once. What strikes you most? What % of this document do you understand? What is clearer? What is very difficult to understand? Let us know in the Comment section below.
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