Understand the legal and commercial weight of your investment term sheet

This service is commonly used by founders, early-stage companies, growth businesses and existing shareholders who have received a proposed term sheet and want to understand what it may mean before momentum builds around the deal. It is particularly useful where the headline valuation looks attractive but the control, preference or founder restriction terms need closer attention. If you are deciding whether to sign, counter, or take the discussion back to investors with comments, a review can help clarify the practical implications of the proposal.

The short document often carries big consequences. We usually look closely at valuation mechanics, option pool treatment, liquidation preference concepts, board composition, investor consent rights, founder vesting or lock-in arrangements, information rights, exclusivity, confidentiality and any unusual conditions to completion. The key question is not just what each clause says in isolation, but how the terms work together and what leverage they create in the next stage of drafting. We explain where a point is standard, where it is more investor-friendly, and where clarification may be worth seeking.

Yes. Part of the value in a term sheet review is understanding which points are likely to matter most before the longer documents are prepared. We can help you sort issues into practical categories such as must-address items, points that may be acceptable with clarification, and terms that are mainly commercial choices. That can include matters like board control, reserved matters, founder restrictions, preference economics or exclusivity periods. We do not promise a particular negotiation outcome, but we can help you approach the discussion with a clearer view of the trade-offs.

Timing depends on the length and complexity of the term sheet, whether there are side emails or mark-ups that also need context, and how quickly you can provide background on the deal. Once we have the relevant documents and instructions, we review the term sheet, prepare written advice, and then discuss the key points with you on a call. If you are under deadline pressure from an investor, let us know early. We can then confirm whether your timeframe is realistic for the scope involved and what can be covered within the fixed-fee.

After the review, founders often use the advice in one of three ways: they accept the term sheet with eyes open, propose changes before signing, or pause until a few key points are clarified. If the transaction proceeds, the next stage may involve subscription documents, shareholder arrangements, constitution changes, board approvals or closing steps. Those items are outside this fixed-fee unless specifically included later. The review is intended to help you assess the proposed deal at the term sheet stage, not to manage the whole fundraising process from start to finish.

Submit an enquiry on this page or click 'Get started'. One of our legal consultants will review it within 1 business day and get in touch to understand what you need.

Your consultant will then email you a fixed-fee quote setting out the cost, scope and timing. If you're happy with it, you can accept the quote and sign our engagement letter online.

Once you've accepted, one of our Australian-qualified lawyers will work with you to complete your project. They'll contact you by email or phone if they need anything.

Sprintlaw works on fixed-fee pricing wherever possible, so you can review the scope and cost before you decide whether to proceed. For the Investment Term Sheet Review service, pricing starts from $900.00.

After you enquire, a legal consultant will confirm what is included, the expected timing and whether any extra work is needed before you engage us.

We work online, so we can help wherever you are in New Zealand. Our team works remotely, mainly from Australia.

Your work is done by our Australian-qualified lawyers, who hold Australian practising certificates and specialise in business law. None of them are New Zealand lawyers or hold a New Zealand practising certificate.

Sprintlaw NZ Limited is a legal consultancy, not a law firm, and is not regulated by the New Zealand Law Society. We don't act in court or tribunal matters, conveyancing (including leases and business sales) or other reserved areas of work. Communications with Sprintlaw are unlikely to be protected by legal professional privilege. We still keep everything confidential under our engagement letter.