Wilson Sonsini just posted a nice tool on venture term sheets. I don’t know how many people might use it to actually generate a term sheet, but it is not a bad way for entrepreneurs and new investors to learn about term sheets and the associated clauses. i can tell by my own limited experience that typical term sheets are much simpler than the form this tool would generate. That said, investors and entrepreneurs should know what terms could be put on the table, what they mean, and how to negotiate them…
From their website:
This tool will generate a venture financing term sheet based on your responses to an online questionnaire. It also has an informational component, with basic tutorials and annotations on financing terms. This term sheet generator is a modified version of a tool that we use internally, which comprises one part of a suite of document automation tools that we use to generate start-up and venture financing-related documents.
Because it has been designed as a generic tool that takes into account a number of options, this version of the term sheet generator is fairly expansive and includes significantly more detail than would likely be found in a customized application.