A term sheet is a non-binding settlement setting forth the rudimentary terms and conditions in which an investment will be made

A term sheet aids as a prototype to develop more meticulous legal documents. Once the parties involved reach a settlement on the details laid out in the term sheet, a binding agreement or contract that adapts to the term sheet details is then drawn up. At Startup Mechanics we also ensure that exclusive legal concerns involved in drawing up an obligatory agreement or contract are not incurred prematurely