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Equity Term Sheet

Draft Equity Term Sheets in Minutes, Not Hours

12 minutes with CaseMark

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Equity Term Sheet

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Workflow

Equity Term Sheet

Overview

CaseMark's Equity Term Sheet skill drafts comprehensive, market-standard term sheets for U.S. preferred stock financing rounds. It structures the complete document — from economic terms and capitalization tables to governance frameworks, investor rights, and protective provisions — with clear delineation between binding and non-binding sections. The result is a negotiation-ready document that accelerates deal timelines for founders, investors, and their counsel.

Drafting equity financing term sheets is a time-intensive process that requires balancing dozens of interconnected economic, governance, and investor rights provisions. Attorneys and deal teams spend hours manually structuring these documents, cross-referencing cap table data, and ensuring binding and non-binding provisions are properly delineated — all while racing against competitive deal timelines.

CaseMark automates the entire term sheet drafting process by intelligently structuring economic terms, preferred stock rights, governance provisions, and closing conditions from your deal parameters. The AI ensures proper binding/non-binding delineation, calculates price-per-share from your cap table inputs, and produces a complete, professionally formatted document ready for investor negotiations.

How it works

  1. 1. Upload your company details, cap table, and round parameters

  2. 2. AI structures the full term sheet with economic, governance, and investor rights terms

  3. 3. Review and customize provisions, valuations, and protective terms

  4. 4. Export the finalized term sheet in your preferred format (DOCX, PDF)

What you get

  • Document Header & Series Designation

  • Non-Binding / Binding Provision Split

  • Economic Terms & Capitalization Table

  • Preferred Stock Rights (Dividends, Liquidation, Anti-Dilution)

  • Governance & Board Composition

  • Investor Rights & Protective Provisions

  • Closing Conditions, Exclusivity & Confidentiality

  • Governing Law & Expenses

What it handles

  • Automatic binding vs. non-binding provision structuring

  • Complete economic terms with price-per-share and valuation calculations

  • Preferred stock rights including dividends, liquidation, and anti-dilution

  • Governance and board composition framework

  • Investor rights and protective provisions drafting

  • Closing conditions and exclusivity carveouts

Required documents

  • Company Details & Cap Table

    Company legal name, jurisdiction, fully diluted capitalization table, existing charter/bylaws, and option plan details

    .pdf, .docx, .xlsx

  • Round Parameters

    Series designation, lead investor name, total raise amount, pre-money valuation, and target price per share

    .pdf, .docx

  • Governance & Deal Terms

    Current board composition, existing investor rights agreements, deal timeline, and any regulatory or expense constraints

    .pdf, .docx

Supporting documents

  • Existing Investor Rights Agreement

    Prior round investor rights agreements to ensure consistency and identify required consents

    .pdf, .docx

  • Prior Term Sheets

    Previous round term sheets for reference on established deal terms and investor expectations

    .pdf, .docx

  • Debt or Convertible Instruments

    Outstanding convertible notes, SAFEs, or debt covenants that may affect the capitalization or deal structure

    .pdf, .docx

Why teams use it

Reduce term sheet drafting time from hours to minutes with AI-powered document generation

Ensure consistent, market-standard structuring across all deal terms and provisions

Eliminate common drafting errors in capitalization calculations and provision cross-references

Accelerate deal velocity by producing negotiation-ready documents on first draft

Questions

What types of equity financing rounds does this cover?

CaseMark's equity term sheet skill is designed for U.S. preferred stock rounds including Series A, B, and C financings. It supports both venture capital and private equity deal structures with customizable terms for each stage.

Is the generated term sheet legally binding?

The term sheet is structured as a non-binding framework by default, with clearly delineated binding carveouts for confidentiality, exclusivity, expenses, and governing law — following standard market practice. CaseMark ensures this critical distinction is explicit throughout the document.

Can I customize liquidation preferences and anti-dilution provisions?

Absolutely. CaseMark generates default market-standard positions for all preferred stock rights, but you can customize liquidation preferences (participating vs. non-participating), anti-dilution mechanisms (broad-based vs. narrow-based weighted average), dividend structures, and more.

Does this replace outside counsel for equity financings?

CaseMark is designed to accelerate the drafting process and provide a strong starting point for negotiations. We recommend having qualified legal counsel review the final term sheet before execution, particularly for complex deal structures or novel provisions.

What information do I need to get started?

You'll need your company's legal name and jurisdiction, current cap table (fully diluted), the round's series designation, total raise amount, pre-money valuation, lead investor details, and current board composition. CaseMark will prompt you for any missing information rather than making assumptions.

Can this handle multiple investor tranches or milestone-based closings?

Yes. CaseMark can structure term sheets with multiple closing tranches, milestone-based funding conditions, and provisions for additional investors joining after the initial close, all within the same document framework.

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