Free financing tool to help startups get legal ball rolling

May 1, 2009

MILKEN/Leave it to a savvy law firm headquartered in the heart of Silicon Valley to develop an online tool that actually generates draft financing term sheets for startups using the simplicity of a web-based questionnaire.

The so-called “Term Sheet Generator” comes courtesy of Wilson Sonsini Goodrich & Rosati, a Palo Alto-based firm that’s played legal adviser to the likes of Apple and Sun Micro. It works with the responses and information provided by users to build fully formatted term sheet documents that can help entrepreneurs seeking outside capital get the ball rolling.

As Startup CFO blogger Mark Macleod astutely points out, the tool is no replacement for the advice of a skilled lawyer but can help cut costs when pondering early round funding. This is a sentiment shared by WSGR, which notes in the user terms and conditions that the service is “for general informational purposes only” and does “not constitute advertising, a solicitation or legal advice.”

The tool also offers up tutorials and annotations on terms for those who may be new to the world of financing, as well as market data that is worked into the standardized answer options of some of the more than 100 questions.

VC-blog altgate, which has a review of the generator and a sample term sheet, agrees that it’s a useful tool and reports that it’s but one of a slew of document generators WSGR plans to make publicly available on the web.

Let’s hope they also carry the lovely price-tag of $0.

(Photo: An attendee works on a computer at the 2009 Milken Institute Global Conference in Beverly Hills, California April 28, 2009. REUTERS/Phil McCarten)

One comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see

DIY Venture Funding Term Sheet…

Entrepreneurs often are known for being self-reliant, so it was not surprising to learn that Wilson, Sonsini, Goodrich …

Posted by DIY Venture Funding Term Sheet » Coventry League – Blogentary | Report as abusive

[…] Reuters:  Free financing tool to help startups get legal ball rolling […]

Posted by WSGR online venture financing term sheet generator : Startup Company Lawyer | Report as abusive

As the use of web is increasing various fields are just adding value to it. It can be obtain from the article that the relation between finance and legal issue. Like this Counterclaim is also rising on the both finance and law.

Posted by sumit | Report as abusive