Nearly all venture capital deals start with a term sheet. Ashfords' Technology Team have published a series of posts aimed at de-mystifying term sheets for entrepreneurs and start-ups.
Below are the collection of blog posts written by Giles Hawkins based on Anatomy of a Term Sheet, this is updated on a weekly basis:
What is a Term Sheet?
Liquidation Preference I
Liquidation Preference II (Non-Participating v Participating)
Anti-dilution II (Full Ratchet)
Anti-Dilution III (Weighted Average)