Village Workshop: Term Sheet 101

Whether selling your company, taking in investment dollars, or doing any other major transaction, having a term sheet is a vital but misunderstood part of the process. Long-time corporate attorney and Villager Carl Johnston will explain many aspects of term sheets, including:

• What are typical elements of a term sheet for angel/VC investment?
• What are typical elements of a term sheet for acquisition of the company?
• What are the ways that companies often run into trouble because of not understanding term sheet issues?
• What parts of a term sheet should be binding and which should not? How do you determine which is which?
• If the term sheet isn’t binding, why is it worth the effort to negotiate a term sheet?

No need to bring a legal dictionary – Carl is that rare attorney who speaks in plain English! This session will include plenty of time for your questions, with no-BS answers, and will draw on Carl’s 30+ years as an attorney with major law firms and as general counsel to two major international corporations.

About Carl Johnston
Mr. Johnston specializes in working with early stage companies on a wide range of corporate issues, including planning for and obtaining venture capital and angel funding, mergers and acquisitions, securities law compliance, and corporate governance. He also has deep experience in technology-related contract issues, including structuring and negotiation of software license agreements, SaaS and cloud services agreements, technology licensing, professional services, joint development, and strategic alliances.

Mr. Johnston has more than thirty years of experience as an attorney, both at major law firms and serving as General Counsel for two major international corporations. He is also a CPA, and worked for Deloitte for four years before attending law school. His experience as a CPA and his business experience are invaluable in areas such as mergers and acquisitions and corporate finance. His undergraduate and law degree are from the University of Texas at Austin, and he also holds an MA in economics from Brown University.