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Dictionary by pitch.dog
Contracts, memos & negotiation instruments · Working

Term sheet

ELI5

A summary of proposed or agreed commercial and legal terms, often partly or wholly non-binding until definitive documents.

Used in conversation

“Can you flag the important terms in the term sheet before the call?”

Pitch context

You may encounter “Term sheet” in rights, contracts, finance, distribution & labour conversations or materials.

Why it matters: Explains who controls, pays for, approves, exploits or bears risk around a project.

Caution

Meaning and consequences may change by contract, collective agreement, territory or law. This entry is orientation, not legal advice.

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Sources & evidence · 8

Supporting source families. This entry is an editorial synthesis rather than a quotation from one canonical glossary.