Below are all the legal and contractual definitions for the term “
" found within legal contracts contributed to The Genie Community.
All those below are used by lawyers, in-house legal counsel, startups and business owners alike.
Note: These definitions may differ between geographies, company size and contract category.
The Company and its representatives and advisors will hold this Term Sheet and the terms of any proposals made by or on behalf of Atlassian in strict confidence, in accordance with the Mutual Nondisclosure Agreement dated as of _____ between Atlassian and the Company.
This comprehensive term sheet, drafted by Atlassian and customisable on the Genie AI platform, aims to remove confusion surrounding the M&A process, particularly for founders who are selling a company for the first time. It contains explanations of key terms to aid transparency and a fair agreement.
By moving away from one-sided, buyer-favourable terms, this term sheet may reduce friction and avoid lengthy negotiations.
Some of the major terms to pay attention to are: purchase price, founders’ roles, stock vs. cash consideration, retention equity, indemnification, escrow and risk allocation.
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