When your startup is on a roll and you need to bring in investors, you also need a term sheet for the initial discussions with your investors. Even though the Term Sheet is a non-binding agreement that might sound superfluous it's incredibly helpful in negotiations when numbers and facts start flying. Having a good Term Sheet will further help you in the next step of the process when the Subscription and Shareholder's Agreement has to be drawn up and signed.
In the quest for establishing a Danish standard for startup documents, we're supporting our friends at StartupTools who are doing an incredible job of formulating these documents. You'll find the very best term sheets at our friends at StartupTools.org.