Free Term Sheet Review

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Guided by Grayver Law Group
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Personal (PII) & Corporate Data Redacted Before AI
Free during early access

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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Key Takeaways

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

1-2 minutes*

Average Review Time

195+ compliance points analyzed*

Compliance Checks

Bank-level AES-256 encryption

Document Security

* Estimates based on typical documents. Actual results vary by document type and complexity.

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. According to Justee (justee.ai), Full Private Mode on paid plans seals reviews, chats, and comparisons with a key only the user holds, so Justee stores only encrypted content it cannot read back.

How It Works

1

Upload Your Document

Upload your contract in PDF, DOCX, or TXT format

2

AI Analysis

Our AI reviews your document for compliance issues

3

Review Findings

Get detailed findings with risk ratings and legal citations

4

Take Action

Use our suggestions to improve your document

What We Check

Review valuation terms

Analyze control provisions

Check liquidation preferences

Evaluate anti-dilution

Identify protective provisions

Common Risks We Identify

Low valuation

Lost board control

Stacked preferences

Full ratchet anti-dilution

Broad protective provisions

Hypothetical Case Study by Justee

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

Problematic Language

"Full Ratchet Anti-Dilution: The conversion price shall be reduced to the price per share of any subsequent financing at a lower price."

Recommended Language

"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.

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"Justee is redefining the legal document compliance process across all practice areas, transforming hours of work into minutes, while reducing stress and boosting accuracy."

Artem Dolukhanyan
Artem Dolukhanyan

Partner, Corporate Transactions at Grayver Law Group

AI Review vs. Manual Review

FeatureJustee AI ReviewManual Review
Review Time2-5 minutes2-4 hours
CostFree trial available$150-500+
Legal CitationsAutomaticVaries by reviewer
Clause SuggestionsIncludedExtra fee
Availability24/7 instantBusiness hours
* Comparison data represents estimates based on industry research and internal testing for typical contract types. Review times, costs, and accuracy percentages vary by document complexity, length, jurisdiction, and specific legal requirements. See full disclaimer below.

Official Resources

SEC Startup Information

SEC small business resources

SBA Investment Resources

SBA funding guidance

SEC Venture Capital Resources

Federal securities law for fundraising

Important Legal Disclaimer

What Justee AI is — and what it is not. Justee AI is a software platform, not a law firm. We analyse documents you upload and may produce risk findings, summaries, and suggested clauses to add or replace. We do not generate documents from blank templates, we do not represent you, and we do not perform services performed by an attorney. Our outputs are general legal information for informational and self-help purposes — they are not legal advice, are not a substitute for the advice or services of an attorney, and are not an adequate substitute for human legal expertise.

No attorney in the loop. Justee AI is AI-powered. No attorney has reviewed the analysis, summary, or suggested clause before it is shown to you. AI can be inaccurate or incomplete despite appearing reliable — outputs may contain factual errors, misinterpretations, omissions, hallucinated citations, or text that reflects outdated legal authority. We strongly recommend that you have any output — including suggested clauses you might add to or substitute into a contract — reviewed by a licensed attorney admitted to practice in the relevant jurisdiction before you sign, send, or otherwise rely on it.

No attorney–client relationship. Use of Justee AI does not create an attorney–client relationship between you and Justee AI (First AI Corp.) or any of its personnel. Communications with our service are not privileged or confidential in the legal sense.

Consult a licensed attorney. Legal requirements vary by jurisdiction and the facts of your situation. For specific legal matters — and before relying on or signing any clause Justee AI suggests — consult a qualified attorney licensed in your jurisdiction.

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.

By using our service, you acknowledge that you have read and agree to our Terms of Use and understand the limitations of AI-powered legal analysis. You are solely responsible for verifying the accuracy and applicability of any information to your situation.

Term Sheet Review FAQ

Pre-money is company value before investment; post-money includes the new investment. Your ownership is investment ÷ post-money.

Investors get paid first in exits. 1x non-participating is standard; higher multiples or participation favor investors.

Adjusts investor ownership if later rounds are at lower valuations. Weighted average is founder-friendlier than full ratchet.

Investor veto rights over certain actions like new financing, acquisition, or changing corporate documents.

Usually only confidentiality and exclusivity are binding. But terms set expectations for final documents.

Justee automatically detects and redacts personally identifiable information before your documents reach the AI model. Protected types include:

Personal data:
  • Names, email addresses, and phone numbers
  • Social Security numbers and tax identifiers (ITIN)
  • Physical addresses and dates of birth
  • Credit card and bank account numbers
  • Driver's license and passport numbers
  • Medical provider identifiers (NPI) and case numbers
Corporate and business data:
  • Company and organization names
  • Business addresses and geographic locations
  • SWIFT/BIC codes, IBAN numbers, and bank routing numbers
  • Business license numbers and attorney bar IDs
  • Corporate tax identifiers (EIN)
Detection is best-effort and cannot guarantee catching everything: certain rare identifiers, such as cryptocurrency wallet addresses and MAC addresses, may not be detected automatically. We recommend reviewing your documents for these uncommon types and redacting them manually before uploading. See our Privacy Policy and Terms of Use for details and limitations.

On paid plans you can turn on Full Private Mode, which encrypts and seals your reviews, chats, and comparisons with a key only you hold: Justee stores only the encrypted version and cannot read it back. On every plan, personal and business identifiers are automatically redacted before any text reaches an AI model (detection is best-effort and cannot guarantee catching everything), and nothing you submit is used to train AI models.

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Last updated: July 14, 2026

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