What to look for in term sheets
April 10th, 2009
From a conversation with one of the top East Coast VCs, these are the things you must receive in a term sheet if you’re on the VC side:
- Liquidation preference
- A board seat
- Right of first refusal for subsequent funding rounds.
The absence of any one of those terms should be a deal-breaker, but if you have those, you should be able to get close the deal.
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