Sprintlaw offers smart, simple and affordable legal solutions for small businesses and startups.
Why do I need a Founders Term Sheet?
Having ground rules is always healthy for your co-founder relationships and your business, especially as your business grows and the stakes become higher. If you’re setting up a company, you should enter into a Shareholders Agreement as soon as possible, but preparing one can be a costly exercise. A Founders Term Sheet is a good way to get started!
A Founders Term Sheet tailored to the needs of your business
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1 / Get a free quote
Our legally trained consultants will prepare a fixed-fee quote for you.
2 / Accept online
Accept your fixed-fee quote and e-sign our engagement letter.
3 / Speak with a lawyer
Our expert lawyers will talk you through your project via phone, video call or whatever suits!
Receive your completed project, usually within 5 - 10 working days.
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A Founders Term Sheet is a contract setting out the key points of agreement between co-founders of a business. It governs important matters such as ownership of the business, how decisions are made, what happens when a co-founder wants to leave the business and how disputes are handled.
Our Founders Term Sheet package starts at £550. It includes drafting the document, a complimentary round of changes, and phone calls with a Sprintlaw corporate lawyer to discuss the terms you’d like to include and help answer your questions.
Not exactly. Sprintlaw is a legal consultancy and our lawyers are not acting as solicitors when providing services through Sprintlaw. In England and Wales, law firms are authorised and regulated by the Solicitors Regulation Authority (SRA), and when we provide services to our clients we are not regulated or authorised by the SRA.
Legal consultants advise on non-contentious commercial, intellectual property and IT matters, which are not areas of practice reserved to solicitors. By structuring Sprintlaw as a legal consultancy, we can keep our running and administrative costs down and pass on the benefit of savings to our clients and provide our services at a much more competitive rate than solicitors providing the same services. This is a new model of practice which has been available since 25 November 2019 when the SRA rolled out certain regulatory reforms.
Our team is made up of experienced lawyers, who are specialists in various areas of law and have all trained at leading law firms. They have left the traditional corporate law world to join us on our mission to create a new and better way of delivering legal services. Our team has expertise in technology law, intellectual property law, contract drafting and review, corporate law and commercial law.
Our use of technology allows our team members to work remotely from around the world, including the UK, Canada and Australia. We generally work with our clients entirely online and over the phone. Our head office is based in downtown Sydney, Australia.