Canadian Term Sheets

June 07, 2015


I’m super inspired by Bryce of open sourcing his term sheets, so it’s about time that I posted the Full Stack term sheets, too.

I’ve taken a couple of attempts at working together with other groups in Canada to release a true universal set of seed financing documents, much as the US has a handful of similar packages of documents to choose from. But, there hasn’t been an interest in moving particularly quickly. I’ve always shared these documents as examples – for both founders & funders – so it only makes sense to fully open source them. We completed over a dozen financings in a 2 year period, with 9 companies. About half of them were common stock deals using this Full Stack Common Seed term sheet.

We also have a convertible debt term sheet that we’ve used, but increasingly I’m convinced that convertible debt is not the right method for early stage financing, so I won’t be sharing it for now.

Thanks to Justin Young at Lawson Lundell for being a great partner in evolving these documents with us. You can find more awesome Vancouver-based lawyers that know startups in our tools section.

Everything in the resources folder is free to use, licensed under CC0 1.0 Universal.

Full Stack Common Seed

Canadian Startup Documents

Other examples/open source versions of term sheets and related legal documents in Canada: