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Each document is intended to serve as a starting point only and should. While a term sheet should always be created and negotiated by legal counsel, a free representative term sheet is available through the national venture capital. Web the “term sheet” or “letter of intent” is a key document in a venture capital transaction. Web vc term sheet templates. Whether the initial agreement as to terms is structured as a “term sheet” or a “letter of intent” is a technical difference, and the. Web sample term sheet template. As term sheets are a necessary part of any fundraise there are hundreds of templates and examples to choose from by the investors, founders, and lawyers that have.