term sheet

plural term sheets

1. venture capitalbusinessA bullet-point document outlining the material terms and conditions of a potential business agreement, establishing the basis for future negotiations between a seller and buyer, or the conditions for financing a startup company.

   Usually, only certain parts of the term sheet will be expressed to be legally binding (see below) but the whole of the term sheet will be morally binding[…]

   2006, Rupert Pearce, Simon Barnes, Raising Venture Capital, John Wiley & Sons, →ISBN, page 102

   1 more example

   Once you've received a term sheet from a VC, you can use this to motivate action from other VCs, but you have to walk a fine line between oversharing and being too secretive.

   2011, Brad Feld, Jason Mendelson, Venture Deals […] , John Wiley & Sons, →ISBN, page 125