Founders’ Agreement
Equity, vesting, roles and IP agreed between co-founders.
Startup Services
Investor Term Sheet Review for Founders
Before you sign, know exactly what you are agreeing to. We review your term sheet, explain every clause in plain English and flag what to negotiate.
- 2–3 working days
- Clause-by-clause review
- Negotiation pointers
- Call with a lawyer
Why a term sheet review matters
A term sheet is usually non-binding, but it sets the framework for the final investment agreements. Terms you accept now – on liquidation preference, anti-dilution, control and founder vesting – are very hard to change later. A short review by a lawyer can save you significant value and control.
What we review
- Valuation, instrument (equity, CCPS, CCD, SAFE-style notes) and pre/post-money basis
- Liquidation preference and participation
- Anti-dilution protection (full ratchet vs weighted average)
- Board seats, observer rights and reserved matters
- Founder vesting, lock-in and non-compete
- ESOP pool and whether it is pre- or post-money
- ROFR, tag-along, drag-along and exit rights
- Exclusivity, confidentiality and costs
What you receive
A clear, plain-English summary of each clause, a list of points that are off-market or risky for founders, suggested positions to negotiate, and a call with a lawyer to discuss. When terms are agreed, we can prepare the shareholders’ agreement.
Documents required for Term Sheet Review
After you purchase, log in to My Account → My Services and upload each document below. Scanned copies or clear phone photos (PDF, JPG or PNG) are fine. Your files are stored privately and seen only by your assigned expert.
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Term sheet The investor’s draft or signed term sheet Required
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Current cap table Shareholding before the investment Required
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Existing SHA or founders’ agreement If any If applicable
Term Sheet Review process with Nevo Legal
Share the term sheet
Upload the term sheet and your cap table.
Lawyer review
Every clause is reviewed against market standards.
Written summary
Plain-English summary with risks and suggested changes.
Discussion call
A call to answer your questions and plan negotiations.
What you get
- Clause-by-clause review note
- List of negotiation points
- Suggested alternative wording
- Consultation call with a lawyer
Term Sheet Review – frequently asked questions
Is a term sheet legally binding?
Most terms are non-binding, but clauses such as confidentiality, exclusivity and costs are usually binding.
What is a 1x non-participating liquidation preference?
It means investors get their money back first on an exit, or convert to equity and share proceeds pro rata, whichever is higher – but not both.
Can you negotiate with the investor for us?
We usually advise you directly, but we can join calls or correspond with the investor’s counsel on request at an additional fee.
You may also need
All Startup Services services Related services
Shareholders’ Agreement
Governance, investor rights and share transfer terms.
ESOP Plan
Employee stock options designed, documented and approved.
Not sure which service you need?
Speak to a Nevo Legal expert. We will understand your requirement and recommend the right legal route – no obligation.