Review your term sheet before signing. Fast, expert identification of valuation issues, control provisions, and protective terms that affect your ownership.
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Understand pre-money valuation and resulting ownership
Review board composition and voting rights
Know liquidation preferences and participation rights
Verify anti-dilution provisions and protective provisions
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Justee's term sheet review tool analyzes investment term summaries for valuation fairness, control appropriateness, preference reasonableness, and protective provision scope. The AI identifies risks including low valuations, excessive board control, stacked liquidation preferences, and broad protective provisions. Justee provides suggested considerations based on venture financing standards. Term sheets outline key investment terms before detailed documentation. While often non-binding, they establish negotiating positions. Common issues include valuations that create excessive dilution, board structures that limit founder control, and liquidation preferences that minimize founder returns in exits.
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Free Term Sheet Comparison • No Sign-up Required • Results in Minutes
Review valuation terms
Analyze control provisions
Check liquidation preferences
Evaluate anti-dilution
Identify protective provisions
Low valuation
Lost board control
Stacked preferences
Full ratchet anti-dilution
Broad protective provisions
Review valuation terms
Analyze control provisions
Check liquidation preferences
Evaluate anti-dilution
Identify protective provisions
Powered by Justee AI • Free Term Sheet Analysis
Justee recently analyzed their term sheet for a $5M Series A round for a Series A startup negotiating with a venture capital firm.
Issue Found: The term sheet included full-ratchet anti-dilution protection, meaning any future down round would dramatically dilute founders. At a 50% down round, founders would lose 60% of their remaining stake.
Justee Recommendation: We negotiated broad-based weighted-average anti-dilution instead, which would result in only modest dilution in the same scenario. We also added a pay-to-play provision to ensure investors participated in future rounds.
"Full Ratchet Anti-Dilution: The conversion price shall be reduced to the price per share of any subsequent financing at a lower price."
"Broad-Based Weighted Average Anti-Dilution: The conversion price shall be adjusted pursuant to a broad-based weighted average formula considering the number of shares outstanding and the prices of all equity securities issued."
Why it matters: Full ratchet anti-dilution is extremely founder-unfriendly. Weighted-average formulas balance protection against excessive dilution. Negotiate this point firmly.
Partner, Corporate Transactions at Grayver Law Group
| Feature | Justee AI Review | Manual Review |
|---|---|---|
| Review Time | 2-5 minutes | 2-4 hours |
| Cost | Free trial available | $150-500+ |
| Legal Citations | Automatic | Varies by reviewer |
| Clause Suggestions | Included | Extra fee |
| Availability | 24/7 instant | Business hours |
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Manual Review
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2-4 hours
Cost per Document
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Not Legal Advice: The information and analysis provided by Justee AI is for general informational purposes only and does not constitute legal advice. While we strive to provide accurate and helpful information, our AI-powered service is not a substitute for professional legal counsel.
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Consult a Professional: For specific legal matters, we strongly recommend consulting with a qualified attorney licensed in your jurisdiction. Legal requirements vary by location and circumstances, and only a licensed attorney can provide advice tailored to your specific situation.
Performance Estimates (*): All statistics, metrics, and numerical claims on this page — including review times, cost comparisons, accuracy percentages, and database size — are estimates based on internal testing, industry research, and typical use cases. Actual results vary based on document type, complexity, length, jurisdiction, and other factors. Cost comparisons reference publicly available average attorney rates and are not guaranteed savings. "1M+ laws and regulations" refers to the breadth of Justee's reference database and does not imply that every provision is checked against every law for every document.
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Last updated: May 13, 2026
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