Term Sheet Generator
April 22, 2009
The law firm Wilson, Sonsisni, one of the leading firms in working with start-ups in the country, has launched a free term sheet generator for use. The Altgate blog has the full story but here are some key excerpts:
“The way the tool works is that you answer a bunch of questions (north of 100) and then when you are complete it gives you a perfectly formatted Word file term sheet. Most of the questions are structured as “select from” several options often with an optional to “write your own.” The beauty of having the option to select from “standard” options is that WSGR has included some market data, e.g. what percent of term sheets in up rounds in 2008 included this term.”
“Apparently this is the first of many online document generator tools that WSGR intends to make publicly available on the web. There are three categories (startup, equity financing and bridge loans) so we can expect more to come.”
While a startup will still need a lawyers advice in closing a deal, this is a good tool for the first pass of a term sheet or for angels/vc’s/attorneys to quickly get a full formatted term sheet ready.
