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.
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.