Knowyourtermsheet

Knowyourtermsheet

Know Your Term Sheet provides a curated AI prompt and guidance that helps startup founders analyze venture capital term sheets by extracting key provisions and explaining their implications for founders' and company interests.

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#18 in Legal (18 tools)
Added 4 months ago
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Quick Overview

Best for: Legal

What it does

Legal software for decision-makers comparing workflow fit and alternatives.

Best fit

Legal

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Knowyourtermsheet

Know Your Term Sheet is a resource created for startup founders to help them understand and evaluate venture capital term sheets. It provides a ready-to-use AI prompt that founders can paste into their preferred large language model (LLM) along with their term sheet to get explanations of common and critical term-sheet provisions. The page is authored by a founder (Pranit Bauva) and emphasizes practical protection of founders' and company interests while making clear this is not legal advice. The resource also links to source code on GitHub and recommends further reading for founders who want to learn deal terms in more depth.

Know Your Term Sheet provides a curated AI prompt and guidance that helps startup founders analyze venture capital term sheets by extracting key provisions and explaining their implications for founders' and company interests.

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Key Features

Pre-built AI Prompt

A detailed prompt you can copy into an LLM to analyze a VC term sheet and produce founder-protective explanations for key clauses.

Comprehensive Clause Checklist

A long list of specific questions the prompt asks the LLM to evaluate, including liquidation preference, pay-to-play, vesting, anti-dilution, board composition, protective provisions, drag-along, conversion, dividends, redemption, information rights, registration rights, ROFR, voting, restrictions on sales, and many others.

Privacy-friendly Guidance

Advises founders that they do not have to share their term sheet or personal information with the page; instead, they paste the prompt into their own LLM instance.

Educational Resources

References recommended reading (e.g., Venture Deals and Venture Capital Deal Terms) and links to the page's source code on GitHub for transparency and improvement suggestions.

Pricing

Claim this listing to add current pricing tiers.

Use Cases

Founder review before signing

Founders can use the prompt with an LLM to get a structured walkthrough of the term sheet's provisions and potential red flags before engaging lawyers or signing.

Prepare to work with a lawyer

Use the LLM-generated analysis to identify priority issues and to make legal consultation more efficient and informed.

Educational review of deal terms

Founders or early employees can learn what common VC clauses mean in practice by running sample term sheets through the prompt and consulting the suggested readings.

Integrations

Large Language Models (LLMs)

Intended to be used with any LLM — the page provides a prompt to run inside your chosen model (no specific provider required).

GitHub

Source code for the page is available on GitHub; users can view the code and submit suggestions or issues.

Benefits

Quick, structured analysis of complex term-sheet clauses to surface founder-facing issues.
Reduces information asymmetry by giving non-lawyer founders clearer explanations of deal mechanics.
Helps founders prepare focused questions for legal counsel and investors, saving time and legal fees.

Limitations

This resource is a prompt and guidance for LLM-assisted review and is not a substitute for professional legal advice.
Quality of the analysis depends on the chosen LLM's capabilities and the accuracy/completeness of the term sheet provided.

Frequently Asked Questions

Is the content on Know Your Term Sheet legal advice?
No. The page explicitly states the material should not be considered legal advice and recommends consulting a qualified lawyer for legal decisions.
Do I need to upload my term sheet to the website?
No. The guidance specifically notes you do not have to share your term sheet or personal information with the page; instead copy the prompt into your own LLM environment and attach the term sheet there.
Which LLM should I use?
The page recommends using your favorite LLM with the largest available context size so the model can ingest the full term sheet and provide detailed answers.

Getting Started

  1. 1 Copy the provided AI prompt from the page.
  2. 2 Paste the prompt into your preferred large language model (use one with the largest context window) and attach or paste your term sheet for analysis.
  3. 3 Review the AI-generated explanations and consult a qualified lawyer for legal advice and negotiation assistance.

Support

email

Contact the author at [email protected] for suggestions or questions.

github

View source code and submit issues or improvement suggestions via the project's GitHub repository (link available on the page).

docs

The page itself contains the prompt, checklist and recommended readings; no separate documentation portal is provided.

API

Available: No

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