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Summary: Advice from a seasoned financial professional....
Review: After having this book referred to me by about 7 of my venture capital friends I decided to take a look. Well, I was very impressed as this is the first venture capital book I have seen to provide a true insider's perspective. This book literally tells you exactly the wording you need to use to make the section applicable to you - whether you are a:Venture Capitalist Entrepreneur Lawyer Etc. Look at the below section and the detail it provides (you should note the book itself goes on to explain what this entire section means and what each section specifically does): (4) Conversion: [Investor Favorable, Middle of the Road and Company Favorable are the same.] The holders of the Series [A] Preferred shall have the right to convert the Series [A] Preferred, at any time, into shares of Common Stock. The initial conversion rate shall be 1:1, subject to adjustment as provided below. (5) Automatic Conversion: Investor Favorable: The Series [A] Preferred shall be automatically converted into Common Stock, at the then applicable conversion price, (i) in the event that the holders of at least two thirds of the outstanding Series [A] Preferred consent to such conversion or (ii) upon the closing of a firmly underwritten public offering of shares of Common Stock of the Company at a per share price not less than [3 times the Original Purchase Price] per share and for a total offering with net proceeds to the Company of not less than $40 million (a "Qualified IPO"). Middle of the Road: The Series [A] Preferred shall be automatically converted into Common Stock, at the then applicable conversion price, (i) in the event that the holders of at least two thirds of the outstanding Series [A] Preferred consent to such conversion or (ii) upon the closing of a firmly underwritten public offering of shares of Common Stock of the Company at a per share price not less than [2 times the Original Purchase Price] per share and for a total offering with gross proceeds to the Company of not less than $25 million (a "Qualified IPO"). Company Favorable: The Series [A] Preferred shall be automatically converted into Common Stock, at the then applicable conversion price, (i) in the event that the holders of at least a majority of the outstanding Series [A] Preferred consent to such conversion or (ii) upon the closing of a firmly underwritten public offering of shares of Common Stock of the Company at a per share price not less than two times the Original Purchase Price (as adjusted for stock splits and the like) and for a total offering of not less than $5 million, before deduction of underwriters commissions and expenses (a "Qualified IPO").
Rating: 
Summary: Excellent basic book, lacking in-depth analysis
Review: 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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Summary: The Industry Standard for Term Sheets in the VC Industry
Review: As a VC, I can tell you this is THE book every VC, lawyer, investment banker and entrepreneur has on their desk regarding term sheets. It is a great overall reference and the line by line explanations are extremely important for anyone doing deals. I would also highly recommend Wilmerding's second book "Deal Terms" and "Executive Reports: Raising VC From a Tier 1 Firm" which includes this entire book, Deal Terms, Ways of the VC and a list of top VC Firms. I am also told this book specifically is available as a CD-Rom (sold separately), in a Word document, that you can use for your own dealings.
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Summary: This Book Saved Me
Review: As an entrepreneur trying to secure venture financing, this book was a godsend. Not only did it help me better negotiate with my investors, but it made me seem like I really knew what was going on and had experience in the area. It also saved me thousands in legal fees since I was able to make suggestions on my own time (not lawyer time). My backers were quite impressed with this book themselves and all bought copies after I shared it with them when the deal closed. If you have any ties to venture capital at all, this book is worth it's weight in gold.
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Summary: Must Have Book For Every VC, Entrepreneur & Financial Exec
Review: I was very impressed with this book, as it provides an ACTUAL term sheet with line by line wording for entrepreneur favorable, investor favorable and neutral. It also goes into detail on valuations, comparables and other important issues that affect every term sheet. By far the best VC type book I have read so far-this book is a must have on the bookshelves of every financial professional, executive, vc or entrepreneur.
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Summary: Most Insightful Book Ever Written on Venture Capital
Review: I would spend $1,000 for this book - simply put. Even though I am a VC, I was completely awe struck by the detailed information on raising capital, term sheets and valuations this book presented. Besides having great insight into raising venture capital, the highlight of the book is clearly an actual term sheet, put together by one of the leading law firms, with line by line descriptions of what the wording means and actual "legal wording" for "investor favorable," "entrepreneur favorable," and "neutral" terms. This is information you pay $20,000 for with your lawyers. This book is a must have for any entrepreneur, venture capitalist or financial executive.
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Summary: Concise, well written, and informative
Review: 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.
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Summary: The Industry Bible
Review: This book is really the industry bible for entrepreneurs and venture capitalists. The term sheet included with all the explanations is first-rate - and for once, explanined in a very efficient way.
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Summary: Great Book for Budding Entrepreneurs
Review: 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.
Rating:
Summary: Great Book for Budding Entrepreneurs
Review: 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.
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