VDR Ch. 15: Why Do Term Sheets Even Exist?
Office Hours is our podcast covering general issues related to small businesses and startups. Venture Deals Review is a series of Office Hours episodes discussing the book Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist by Brad Feld and Jason Mendelson.
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In this episode, we review Chapter 15: “Why Do Term Sheets Even Exist?” and discuss what the term sheet negotiation process establishes, as well as transaction costs and reputation constraints.