What best describes what a Term Sheet is?
a. A summary of the key terms of a deal with a startup that a Partner takes to the Investment Committee to determine whether to invest.
b. A binding contract between the VC Fund and a startup to facilitate the investment of the VC into the startup.
c. A non-binding agreement which signals what the VC and startup have agreed to regarding the VCs investment in the startup.
d. The only legal document needed to describe the deal terms for the VC to invest in a startup.
