Brad Feld
8 key ideas, each explained in our own words.
Venture Deals
- IDEA 1
Know the players in a deal
Feld and Mendelson describe the people involved in raising venture money, from founders and lawyers to angel investors and venture capitalists. Understanding each party's interests helps founders negotiate sensibly. Lawyers with startup experience help greatly.
- IDEA 2
The term sheet sets the rules
The authors explain that a term sheet outlines the main terms of an investment before final documents are drafted. Most later negotiations follow what is agreed at this stage. It deserves careful attention from founders.
- IDEA 3
Two things really matter
Feld and Mendelson argue that the important terms fall into two groups: economics and control. Economics decides who gets what money, while control decides who makes key decisions. Most other terms matter far less.
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