Excellent basic book, lacking in-depth analysis

books:

	• Term Sheets & Valuations - A Line by Line Look at the Intricacies of Venture Capital Term Sheets & Valuations ... Alex Wilmerding, Aspatore.com Aspatore Books, 2006 - 106 pages average customer review:based on 23 reviews view larger image
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highly recommended

Concise, well written, and informative

The author takes standard term sheets and analyzes each key section according to what is investor favorable, company favorable, or neutral. This is a great approach, as it enables to explore the potential extremes in a term sheet section.
The examples are indeed boilerplate, but it nevertheless serves as an excellent introduction to term sheets. I've been able to apply the concepts discussed in the book to the analyses of term sheets at our firm...a testament to this book's utility. Overall, an excellent value.

Informative and highly focused.

When I first received this book, I was disappointed because of its short length (106 pages). I could not have been more wrong, the book is very comprehensive. I bought this book because I was involved in a Private Equity transaction on the entrepreneur side of the transaction. We had received a term sheet from the investor and I needed to get educated about this stage of the transaction. The investor that submitted the term sheet was not using one of the 5 typical formats, so Wilmerding's approach of describing the various clauses in the term sheet and the effects on the parties was of critical importance to our transaction. As the other reviewers have mentioned, the author describes the various clauses as investor favorable, middle of the road, or company favorable. This approach was helpful in developing several ideas for "push backs" in our negotiation. The author also helped highlight "red flags" to be aware of and described their significance. The author also highlights where it is important to retain experienced council to avoid legal pitfalls.

This book is a step by step cookbook for navigating the first critical steps in each round of financing a new company will do. Ignore his advice at your own financial peril.

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Great Book for Budding Entrepreneurs

This book was extremely informative for someone like me. I am the 3rd person into a start-up that is in the midst of looking for 1st round VC funding. This is a great book for budding entrepreneurs as it gives important info not only on the intricacies on term sheets and valuations but also an inside look on how the VC industry itself works both on the East Coast and on the West Coast. Great book. I highly recommend it.

Excellent basic book, lacking in-depth analysis

An excellent book for beginners, but lacking an in-depth analysis of why term sheet are built in a certain way. Most of the content is boilerplate and useful for somebody that has never seen a deal term sheet. The comparative approach on content is good. For the price, it is a good shelf acquisition, though.

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Fantastic Book-Unparalleled Insight

This is a first rate book-regardless if you are a seasoned venture capitalist or first time entrepreneur. Having been a venture capitalist for 22 years now, the term sheet in this book is boilerplate-but it is 1 of the 4 boilerplate term sheets every legitimate lawyer/venture capitalist uses as a term sheet-and available for the first time ever in the "public domain." In addition, what makes the book so valauble is the line by line wording and analysis for entrepreneur favorable, investor favorable and neutral. I highly recommend this book to every entrepreneur, venture capitalist, and executive of every level-it is a MUST have on your bookshelf as a timeless reference.

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reviews: 1, 2, 3, page 4, 5

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