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Term sheet control and governance register
The founder holds a complete, parameterized map of the control terms in their term sheet, separated from the economic terms, ready for a lawyer review.
You receive: A JSON object { round, leadInvestor, clauses[], boardComposition{}, votingThresholds[], summary{} } where clauses[] is an array of { clauseId, family (enum: board|voting|protective_provision|rofr|co_sale|drag_along|tag_along|information_rights|founder_vesting|leaver_repurchase|exclusivity|confidentiality|preemption|registration), name, parameter{key,value,unit}, triggerEvent, favors (enum: investor|founder|mutual), founderImpact (enum: high|medium|low) }
Part of Pitch Investors
Example
A sample of what this play produces. Your result is generated for your inputs.
- Round
- Pre-Seed
- Lead Investor
- Exampleton Ventures (fictional)
Clauses
Board composition
- Clause Id
- ctrl-01
- Family
- board
- Parameter
- Key
- investorBoardSeats
- Value
- 1
- Unit
- seats
- Trigger Event
- Closing of the Pre-Seed round
- Favors
- investor
- Founder Impact
- high
Preferred class vote on charter amendments
- Clause Id
- ctrl-02
- Family
- voting
- Parameter
- Key
- approvalThreshold
- Value
- 50
- Unit
- percent of preferred
- Trigger Event
- Any amendment to the certificate of incorporation
- Favors
- investor
- Founder Impact
- medium
Investor veto on new senior securities
- Clause Id
- ctrl-03
- Family
- protective_provision
- Parameter
- Key
- vetoScope
- Value
- issuance of shares senior or pari passu to the Pre-Seed preferred
- Trigger Event
- Any new financing round
- Favors
- investor
- Founder Impact
- high
Investor veto over a company sale
- Clause Id
- ctrl-04
- Family
- protective_provision
- Parameter
- Key
- approvalRequired
- Value
- majority of preferred
- Trigger Event
- Merger, sale, or exclusive license of substantially all assets
- Favors
- investor
- Founder Impact
- high
Right of first refusal on founder transfers
- Clause Id
- ctrl-05
- Family
- rofr
- Parameter
- Key
- exerciseWindow
- Value
- 30
- Unit
- days
- Trigger Event
- Founder proposes to transfer shares to a third party
- Favors
- investor
- Founder Impact
- medium
Co-sale right on founder secondary sales
- Clause Id
- ctrl-06
- Family
- co_sale
- Parameter
- Key
- proRataParticipation
- Value
- 100
- Unit
- percent of pro rata
- Trigger Event
- Founder sells shares after ROFR is not exercised
- Favors
- investor
- Founder Impact
- medium
Drag-along on an approved sale
- Clause Id
- ctrl-07
- Family
- drag_along
- Parameter
- Key
- dragThreshold
- Value
- 60
- Unit
- percent of all shares
- Trigger Event
- Sale approved by the board and the threshold of shareholders
- Favors
- mutual
- Founder Impact
- medium
Quarterly financial reporting
- Clause Id
- ctrl-08
- Family
- information_rights
- Parameter
- Key
- reportingCadence
- Value
- quarterly unaudited financials within 45 days
- Trigger Event
- End of each fiscal quarter
- Favors
- investor
- Founder Impact
- low
Founder share vesting
- Clause Id
- ctrl-09
- Family
- founder_vesting
- Parameter
- Key
- vestingPeriod
- Value
- 4
- Unit
- years
- Trigger Event
- Signing; monthly vesting with a 1-year cliff
- Favors
- investor
- Founder Impact
- high
Repurchase of unvested founder shares
- Clause Id
- ctrl-10
- Family
- leaver_repurchase
- Parameter
- Key
- repurchasePrice
- Value
- original issue price for unvested shares
- Trigger Event
- Founder departure before full vesting
- Favors
- investor
- Founder Impact
- high
No-shop exclusivity
- Clause Id
- ctrl-11
- Family
- exclusivity
- Parameter
- Key
- exclusivityWindow
- Value
- 45
- Unit
- days
- Trigger Event
- Term sheet signature
- Favors
- investor
- Founder Impact
- medium
Investor pro rata right in future rounds
- Clause Id
- ctrl-12
- Family
- preemption
- Parameter
- Key
- proRataCoverage
- Value
- 100
- Unit
- percent of pro rata
- Trigger Event
- Any future equity financing
- Favors
- investor
- Founder Impact
- low
Board Composition
- Founder Seats
- 2
- Investor Seats
- 1
- Independent Seats
- 0
- Note
- Dan Schmitz holds two common seats; Exampleton Ventures (fictional) takes one preferred seat. Founders keep board control at pre-seed, which is the point of mapping these terms before signing.
Voting Thresholds
| Action | Percent | Of |
|---|---|---|
| Amend charter or bylaws | 50 | preferred, voting as a separate class |
| Approve a sale of the company | 50 | preferred, plus board approval |
| Trigger drag-along | 60 | all shares on an as-converted basis |
Summary
- Total Clauses
- 12
- Investor Favored
- 10
- Founder Favored
- 0
- Mutual
- 1
- High Impact
- 5
- Read Note
- This register maps only the control side of STUD's illustrative $1,000,000 pre-seed term sheet (the raise target is illustrative, not a committed round; STUD is pre-incorporation, so every clause here is a pre-signature planning position, not an executed term). The economic terms (price, preference, pool) live in their own plays. The five high-impact clauses are the ones to spend lawyer time on: board seat allocation, the two protective-provision vetoes, the 4-year founder vesting restart, and the leaver repurchase. Exampleton Ventures is a fictional counterparty used to make the register concrete.
Opens soon
STUD opens runs for everyone soon, on every play at once.
Scope of the check
What's verified: STUD verifies that every requested control family is present, parameters are filled, board seats sum to the target, the vesting period matches, and IDs/enums are well-formed. STUD does NOT judge whether the terms are founder-favorable, market-standard, legally enforceable, or negotiable, and this is not legal advice.
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