Founders & sellers
Founders & sellers receive a clear view of the available routes, material risks and decisions involved in valuation & ownership.
Term sheets in Germany · Berlin · advising across Germany
Term sheets in Germany
The term sheet defines the architecture of a financing. Ambiguity at this stage usually becomes more expensive during the long-form negotiations.
Who it is for
For parties shaping a binding deal structure.
Founders and investors benefit from translating commercial expectations into clear terms that can support later drafting.
Investors & buyers
Investors & buyers can align their commercial interests with the rights and obligations that shape control & protections.
Management teams
Management teams gain a practical basis for taking responsibility and carrying vesting & exit through to completion.
Advice
Read the economics and sharpen the legal wording.
Provisions are assessed for their combined effect on dilution, governance and the later transaction documents.
Valuation & ownership
The legal work on valuation & ownership is kept closely aligned with the transaction and its next milestones.
- Establish the facts relevant to valuation & ownership
- Test the available options and their commercial effect
- Turn the agreed route into clear documents and actions
Control & protections
Available routes for control & protections are weighed by their legal effect, operational burden and room for negotiation.
- Establish the facts relevant to control & protections
- Test the available options and their commercial effect
- Turn the agreed route into clear documents and actions
Vesting & exit
The aim is a durable approach to vesting & exit that remains clear when the business has to use it.
- Establish the facts relevant to vesting & exit
- Test the available options and their commercial effect
- Turn the agreed route into clear documents and actions
Contact
Reviewing a term sheet before signature?
Send the current draft and identify the main negotiation points. I will respond promptly on an appropriate next step.
How we work
Set the architecture before details become binding.
Open interests are identified, consequences explained and practical negotiating alternatives prepared.
Request counselUnderstand the position
The objective, stakeholders, existing documents and timing are organised before work begins on valuation & ownership.
Develop the right route
Options for control & protections are assessed by legal effect, commercial consequence and practical workload.
Carry the decision through
The agreed approach to vesting & exit is taken through documents, approvals and completion.
Dr. Philipp LerchAttorney · Berlin
Profile
Legal precision meets commercial understanding.
As an attorney with experience at an international business law firm and an additional background in computer science, I combine corporate law expertise with a clear understanding of business models, processes, and technology.
- Former attorney at Hogan Lovells International LLP
- Two German honours examinations with a focus on commercial and corporate law
- Dr. jur. and LL.M. Corporate and Commercial Law, University of Sheffield
- B.Sc. Computer Science, Free University of Berlin
FAQ
Frequently asked questions
How does advice on term sheets in germany begin?
The first step is to understand the objective, stakeholders, documents and timing. That shows whether a focused review is sufficient or whether valuation & ownership needs a broader workstream.
Which decisions shape term sheets in germany?
Control & protections usually shapes the commercial effect of the arrangement. The decisive issues are therefore addressed before drafting moves into detail.
What can support with term sheets in germany include?
Support can be limited to a specific assessment or continue through drafting, negotiation and completion, including vesting & exit and coordination with other advisers where needed.
Contact
Reviewing a term sheet before signature?
Send the current draft and identify the main negotiation points. I will respond promptly on an appropriate next step.