Term Sheet: Right of First Refusal
Posted on 07. Jul, 2008 by squareroots in Preferred Stock Rights
Originally posted on Feld Thoughts “Term Sheet: Right of First Refusal” by Brad Feld, reposted with permission. Today’s “term that doesn’t matter much” from our term sheet series is the Right of First Refusal. When we say “it doesn’t matter much”, we really mean “don’t bother trying to negotiate it away – the VCs will insist on it.” [...]
Term Sheet: Information and Registration Rights
Posted on 07. Jul, 2008 by squareroots in Preferred Stock Rights
Originally posted on Feld Thoughts “Term Sheet: Information and Registration Rights” by Brad Feld, reposted with permission. When Jason and I last wrote about term sheets, Jack was still trying to save the world (surprise – he did) and we dealt with a meaty and important issue – vesting. For completeness (and because all good [...]
Term Sheet: Vesting
Posted on 07. Jul, 2008 by squareroots in Levers of Valuation
Originally posted on Feld Thoughts “Term Sheet: Vesting” by Brad Feld, reposted with permission. When Jason and I last wrote on the mythical term sheet, we were working our way through the terms that “can matter.” The last one on our list is vesting, and we approach it with one eyebrow raised understanding the impact of [...]
Term Sheet: Conditions Precedent to Financing
Posted on 07. Jul, 2008 by squareroots in Levers of Valuation
Originally posted on Feld Thoughts “Term Sheet: Conditions Precedent to Financing” by Brad Feld, reposted with permission. As I watched 24 last night, I kept thinking to myself “Why the fuck does Jack have his cell phone ringer on – hasn’t he ever heard of vibrate?” immediately after his cell phone rang but right before he got [...]
Term Sheet: Conversion
Posted on 07. Jul, 2008 by squareroots in Preferred Stock Rights
Originally posted on Feld Thoughts “Term Sheet: Conversion” by Brad Feld, reposted with permission. While lots of VCs posture during term sheet negotiations by saying “that is non-negotiable”, terms rarely are (as you’ve likely inferred from previous posts on term sheets be me and Jason.) Occasionally, a term will actually be non-negotiable. In all the VC [...]
Term Sheet: Redemption Rights
Posted on 07. Jul, 2008 by squareroots in Preferred Stock Rights
Originally posted on Feld Thoughts “Term Sheet: Redemption Rights” by Brad Feld, reposted with permission. If you are avid followers of the TV series 24 (as Jason and I are), you’ll recognize that the next item in our term sheet series – Redemption at Option of Investors – has similar characteristics to the regular exchange Jack has with [...]
Term Sheet: Dividends
Posted on 07. Jul, 2008 by squareroots in Levers of Valuation
Originally posted on Feld Thoughts “Term Sheet: Dividends” by Brad Feld, reposted with permission. As our term sheet series unfolds (almost as exciting as 24, eh? – if you’ve been reading the last few days I bet you figured out that I recently had a 7 hour plane ride with a laptop battery that was in pretty [...]
Term Sheet: Pay-to-Play
Posted on 07. Jul, 2008 by squareroots in Levers of Valuation
Originally posted on Feld Thoughts “Term Sheet: Pay-to-Play” by Brad Feld, reposted with permission. There’s nothing like a solid week of vacation with no phone, email, or blogs to get the writing juices rolling again. Of course, now that I’m through my email, I only have 8200 blog posts to read to catch up – thank [...]
Term Sheet: Anti-Dilution
Posted on 07. Jul, 2008 by squareroots in Levers of Valuation
Originally posted on Feld Thoughts “Term Sheet: Anti-Dilution” by Brad Feld, reposted with permission. It has been a while since I put up a term sheet post so I thought I’d tackle a hard one today. While it’s fun to tease lawyers about math (and – actually – about anything), my co-author on this series [...]
Term Sheet: Drag Along
Posted on 07. Jul, 2008 by squareroots in Governance and Control
Originally posted on Feld Thoughts “Term Sheet: Drag Along” by Brad Feld, reposted with permission. As Jason and I continue to wind our way through a typical VC term sheet, we thought we’d tackle the infamous “drag-along agreement.” This is one of those terms that has recently increased in importance to VCs due to the [...]
