Term Sheet Review for HoReCa

A term sheet sets out the main terms of a future investment. In many cases it is largely non-binding, except for certain provisions, but its terms usually become the basis for final binding documents. That is why it should be reviewed carefully before signing.

Special attention is usually paid to valuation, liquidation preferences, anti-dilution, investor veto rights, board composition and founder restrictions. These provisions can strongly affect control and the founders' future economics.

Some clauses may look standard but later affect control, dilution, liquidation proceeds or founder restrictions. Because the term sheet sets the framework for final documents, unfavorable provisions can be harder to correct later.

The cost is calculated upon request and depends on the scope of work, complexity of the project, number of documents and the need for negotiations or communication with authorities. We provide an estimate after reviewing the initial information and the requested scope.