Скачать или смотреть Term Sheet Basics for Swiss Startups – What Founders Must Know Before Signing (Part 3)

In Part 3 of our SeedFast webinar series on startup funding in Switzerland, we take a deep dive into one of the most critical – and most misunderstood – documents in any Seed-Funding round: the Term Sheet.

Whether you're preparing for your first investor negotiation or already have a soft commitment in place, this session equips you with the knowledge to understand, evaluate, and negotiate a term sheet that protects your interests and builds the foundation for a successful investment round.

🧾 What you’ll learn in this episode:

What is a Term Sheet – and what is it not?
– Non-binding in most parts, but legally strategic
– Sets the tone for Shareholders’ and Investment Agreements
– Key for aligning expectations before legal costs mount

Core Clauses You Should Understand
🔹 Economic Terms
– Investment amount & pre-money valuation
– Employee stock option plans (ESOP) and how they dilute
– Liquidation preferences & anti-dilution protection
– Founder vesting clauses and leaver rules (good vs. bad leaver)

🔹 Control Terms
– Board composition & board observer seats
– Reserved matters and veto rights
– Shareholder voting thresholds and operational freedom

🔹 Other Terms
– Transfer restrictions (pre-emption, tag-along, drag-along)
– Information rights & reporting duties
– Confidentiality, exclusivity, and cost allocation

Practical Questions Answered
– Can I reuse an old term sheet?
– What belongs in a good term sheet?
– Why you shouldn't rely on free templates

💡 Why this matters:
The term sheet is more than a summary. It’s a strategic tool that shapes negotiations, defines deal logic, and helps avoid misunderstandings. Founders who understand term sheet mechanics negotiate from a position of strength – and save time, legal fees, and friction down the road.

📌 Previous sessions:
• [Part 1] Overview of Swiss Startup Financing Rounds
• [Part 2] Capital Increase Options for Swiss Stock Corporations

📆 Next webinar (Part 4):
📍 Legal Due Diligence: What founders need to prepare and disclose

🎙️ Speakers:
Dominik Witz (Managing Partner & Co-Founder, Konsento)
Alain Friedrich (Partner, Lex Futura)

🌐 More insights & templates:
• SeedFast: https://www.seedfast.ch
• Konsento LegalTech Platform: https://www.konsento.ch