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The Funded Publishes Ideal First Round Term Sheet

Adeo Ressi, founder of The Funded, a site where people rate venture capitalists and the Founder Institute, an incubator of sorts, has long ranted about what he calls “the atrocities of investors.”

Now, a lot of people, including prominent angel investors and venture capitalists, are starting to listen to him. Tomorrow Ressi will announce a new, basic term sheet for use by investors and founders. The goal is to protect founders and reduce legal fees, which average $50,000 or more per venture round.

by Michael Arrington

Full Story: http://www.techcrunch.com/2009/08/23/the-funded-publishes-ideal-first-round-term-sheet/

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The Challenge of The Ideal First Round Term Sheet

Suddenly the blogosphere is talking about the need for a standardized first round term sheet. The latest iteration of this seems to have blossomed when TheFunded Founder Institute released a “Plain Preferred Term Sheet” (developed with WSGR). According to the article in TechCrunch, the goal is to (a) protect founders and (b) reduce legal fees. Kudos for yet another shot at this – between all the blog posts that have been written about this over the past few years, term sheets are no longer a mysterious thing to an entrepreneur.

Brad Feld

Full Story: http://www.feld.com/wp/archives/2009/08/the-challenge-of-the-ideal-first-round-term-sheet.html

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