Term-sheets and Valuations: Thinking about Negotiations - Startups.
Tim Keane
JANUARY 12, 2010
A full ratchet anti-dilution clause is very unfriendly to entrepreneurs; it requires them to make up the entire difference in price from their own holdings. However, I assume that the proposed business solves a real problem that people are willing to pay for and that it may be lest costly, more efficient, and IP-protected. [5]
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