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Draft a term sheet — or know what one really costs you.
A general chatbot is a decent explainer and a poor reviewer. Draft a term sheet, SAFE, or side letter from a plain-English description, or upload one you’ve received — Initialed flags the off-market and founder-unfriendly terms (preference, dilution, control), ranked by impact, in about two minutes.
Explain the agreement you need in plain English.
Don't worry — you'll get a chance to add more details, or even edit the document afterward.
Review a contract
Drag a PDF or Word file here, or browse. See your top risks free.
Illustrative results with suggested redlines — your review reflects your actual contract.
that decide how much you keep and control
to spot the off-market, founder-unfriendly terms
we tell you which party each clause favors
Draft, review, or ask questions — on any contract
Initialed is one place for the whole contract: write a new one from a plain-English description, pressure-test one you’ve been sent, and ask it anything in between.
Draft it
Describe what you need in plain English and Initialed writes a first draft — with placeholders where your details go, and the clauses your jurisdiction expects.
Review it
Upload one you’ve been sent and get risk-scored findings with suggested redlines you can accept in a click — in about two minutes.
Ask about it
Chat with the contract in plain English — “what am I agreeing to?”, “what’s missing?”, “is this clause normal?” — and get grounded answers.
What Initialed checks in your deal docs
The terms that decide how much you walk away with, and how much control you keep, are exactly the ones a paste-a-paragraph chatbot is built to miss. Here’s what we check.
Liquidation preference
We flag preferences above the standard 1x non-participating, participating “double-dip” preferred, and stacks that push founders to the back.
We flag: preference above 1x · participating preferred · stacked/senior
Anti-dilution & pro-rata
We flag aggressive full-ratchet anti-dilution and super pro-rata rights that let one investor crowd out the round you want.
We flag: full-ratchet · super pro-rata rights
Board & protective provisions
Control is often worth more than the percentage. We flag investor board control and vetoes over ordinary operating decisions.
We flag: investor-controlled board early · broad veto rights
SAFE / note cap & discount
We flag low valuation caps, large discounts, stacked post-money SAFEs, and MFN clauses that quietly compound your dilution.
We flag: low cap · large discount · stacked post-money SAFEs · MFN
Reps & indemnification (M&A)
We flag large escrows, indemnity caps near the full price, long survival periods, and broad reps you can’t personally verify.
We flag: large escrow/holdback · cap near purchase price · long survival
Beyond what ChatGPT or Claude chat can catch.
A general chat reads what you paste and stays quiet on the off-market clause you didn’t know to name. We run the same checklist every time.
You signed. Now the terms are biting.
You’re raising a new round and prior terms constrain it, an investor is exercising rights you didn’t expect, or an acquisition is putting reps and indemnity in play. Upload the signed docs and Initialed explains — in plain English — exactly what you agreed to and whether this is worth taking to a startup lawyer.
We’re not a law firm and we don’t give legal advice. We’re the fast first step that tells you where you stand — so you use your lawyer’s time on the points that matter, not on finding them.
When it’s worth calling a lawyer
- You’re raising a new round and prior terms are constraining it
- An investor is exercising rights (veto, anti-dilution, pro-rata) you didn’t expect
- You’re being acquired and the reps/indemnity terms are in play
- You received a term sheet you don’t fully understand under time pressure
Initialed helps you recognize these fast and organize the facts — then you decide whether to bring in counsel.
How it works
Upload your contract
Drop in the PDF or Word file — one you’re about to sign, or one you already did. Tell us which side you’re on.
We review it, side-aware
Initialed reads the whole document and checks it against a protection checklist — the same rigorous pass every time.
Get ranked red flags
See the clauses working against you, ranked by impact — with what to ask for, or what to raise with a lawyer.
Frequently asked
Can I just use ChatGPT or Claude to review my term sheet?
A general chatbot can explain what a term means, but it reviews only the text you paste, has no consistent checklist, and will confidently miss cross-references, a defined term buried on page 12, or a market-off provision it wasn’t asked about. Initialed reads the whole document, applies the same checklist every time, and tells you which side each clause favors.
What should a founder check in a term sheet or SAFE?
Liquidation preference, anti-dilution and pro-rata rights, board composition and protective provisions, and — for SAFEs and notes — the valuation cap, discount, and total dilution across all instruments. In an acquisition, focus on reps, warranties, escrow, and indemnification.
Do I still need a startup lawyer?
Yes — for financing and M&A, experienced counsel is essential and pays for itself. Initialed is what you do first: it flags the off-market terms in minutes so you use your lawyer’s time on the points that actually matter.
Before you sign — or after you already did.
Upload your term sheet, SAFE, or acquisition draft and see the off-market terms — preference, dilution, control — in about two minutes. Your first credit is free.
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