What I did was I drafted a term sheet that I thought was fair. My goal was not to hide anything or to view it as an opening offer. It helped that I have a background in venture capital.

Fortune’s Term Sheet newsletter covers the latest news, insights, and analysis on private equity, venture capital, start-ups, mergers and acquisitions, high-value deals, and the dealmakers ...

Highlights,An exploding term sheet has a set deadline for negotiation and acceptance.,If the deadline passes, the terms may no longer be valid, forcing the deal to collapse.,Startups and investors ...

Liquidity Preference is one of the few terms in a VC term sheet (other than drag along/vesting and management rights) that really evoke strong reactions from either side. While Majority (or ...

It pitched two other venture capital firms - Accel and 8VC, a boutique firm created by Palantir cofounder Joe Londsdale - and received term sheets from both, according to Knapp. The Palo Alto ...

as well as four hours of consultation on these areas and on venture capital term sheets. Alan Bickerstaff, a partner at Andrews Kurth (the firm offering the plan) said the firm's goal is to ...

The term sheet is brief and flexible enough to allow the commercial teams to negotiate the various terms without needing to incur the added expense of lawyers, yet is detailed enough to give a ...