A memorandum of terms (also called 'term sheet') is the first 'pseudo-legal' letter of intend like document preparing for an [[Investment contract]]
We discussed the term sheet in [[this|[[case|/static/files/MBI/Module%2010/edocs,%20Inc.%20(A)_HBS%209-200-015.pdf]] case. Some parts are of interest:

* Redemption
* Liquidation:
<html>
<img src="/static/files/MBI/Module%2010/liquidation.PNG" width=500>
</html>
What will happen on liquidation:
|\$5,0-M|Founders|
|\$4,0-M|VC|
|\$1,5-M|[[ESOP]]|
* Anti [[Dilution]] clause to describe conditions under which new shares can be emitted.

Discussed as part of: [[M10-S3 - Case - E-docs inc]]
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mbi_public
created
Sat, 06 Nov 2010 12:34:21 GMT
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dirkjan
modified
Sat, 06 Nov 2010 12:34:21 GMT
modifier
dirkjan
tags
M10
Term
creator
dirkjan