A general chatbot is a decent explainer and a poor reviewer. Upload your term sheet, SAFE, or acquisition draft and Initialed flags the off-market and founder-unfriendly terms — preference, dilution, control — ranked by impact, in about two minutes.
Spot off-market and founder-unfriendly terms before you sign.
Review before you signAlready signed? Understand your terms and if it’s worth a lawyer.
See what you agreed toIllustrative 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
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.
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
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
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
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
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
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.
Review your term sheet freeYou’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.
See what you agreed toInitialed helps you recognize these fast and organize the facts — then you decide whether to bring in counsel.
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.
Initialed reads the whole document and checks it against a protection checklist — the same rigorous pass every time.
See the clauses working against you, ranked by impact — with what to ask for, or what to raise with a lawyer.
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.
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.
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.
Upload your term sheet, SAFE, or acquisition draft and see the off-market terms — preference, dilution, control — in about two minutes. Your first review is free.
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