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It sets out the investor’s contemplated investment amount, describes how core documents will be entered into alongside the licence terms, and clarifies that most provisions are non-binding except specific paragraphs. It also references the adoption of new articles of association, shareholders’ agreement, and subscription agreement, with appendices providing share capitalisation tables before and after completion.",{"@graph":63,"@context":119},[64,80,102],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/spin-out-and-investment-term-sheet-subject-to-contract/177735/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/spin-out-and-investment-term-sheet-subject-to-contract/177735.png","ImageObject",442,249,{"name":88,"@type":89},"\tJames","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/vnd.openxmlformats-officedocument.wordprocessingml.document","2026-10-19","2026-09-02",true,{"@type":98,"interactionType":99,"userInteractionCount":101},"InteractionCounter",{"@type":100},"ViewAction",10,{"@type":103,"mainEntity":104},"FAQPage",[105,111,115],{"name":106,"@type":107,"acceptedAnswer":108},"What is the purpose of this term sheet?","Question",{"text":109,"@type":110},"It sets out the main terms the parties intend to include in legal binding written agreements, covering IP licensing and the contemplated investment structure.","Answer",{"name":112,"@type":107,"acceptedAnswer":113},"Is the term sheet legally binding?",{"text":114,"@type":110},"Most terms are not intended to be legally binding, except for specific paragraphs identified in the document.",{"name":116,"@type":107,"acceptedAnswer":117},"What documents will be entered into alongside the licence arrangement?",{"text":118,"@type":110},"Alongside the intellectual property licence, the company will adopt new articles of association, and the parties will enter into a shareholders' agreement and a subscription agreement reflecting the term sheet.","https://schema.org",{"og:url":78,"og:type":121,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":123,"canonical":78},"index,follow",{"doc_id":125,"site_id":56},177735,1788329013,{"code":4,"msg":5,"data":128},{"doc_id":125,"user_id":129,"nickname":88,"user_avatar":130,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":101,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":136,"language":137,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":138,"faqs":139,"seo_title":140,"seo_description":61,"update_tm":126,"read_time":47},2336474466412,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","[Proposed company name]\nSpin-Out and Investment\nTerm Sheet – Subject to Contract\nThe University is not providing any advice in relation to the contents of this Term Sheet.  If you are in any doubt about the contents of this Term Sheet or any action to be taken, you should seek your own independent legal and tax advice.\nBetween:\n[TBC], [TBC] and [TBC] (the \"Founders\");\n[TBC] (the \"University\");\n[TBC] (the \"Investor\")[; and\n4. \t[TBC] (the \"Company”).]\nBackground:\nThe University has agreed, subject to contract, to licence to the Company certain intellectual property rights which the Company intends to commercialise.\nThe proposed terms of the intellectual property licence agreement (the \"Licence Agreement\") are set out in the Licence Agreement Term Sheet.\nThe proposed business of the Company is to [TBC].\nThe Investor has agreed, subject to contract, to invest in aggregate £[TBC] in the Company (the \"Investment\").\nThe Licence Agreement will be entered into alongside (i) the Company adopting new articles of association (“Articles”), (ii) the Company, the University, the Founders and the Investor entering into a shareholders' agreement, and (iii) the Company, the University, the Founders and the Investor entering into a subscription agreement, in each case reflecting the terms set out in this Term Sheet.\nThis Term Sheet sets out the main terms that the parties intend to incorporate into legal binding written agreements.\nTerms:\nThese terms are not and are not intended to be legally binding, save as set out in paragraphs \u0013 REF _Ref164934101 \\r \\h  \\* MERGEFORMAT \u00143.26\u0015, \u0013 REF _Ref191042171 \\r \\h  \\* MERGEFORMAT \u00143.27\u0015, \u0013 REF _Ref191042191 \\r \\h  \\* MERGEFORMAT \u00143.28\u0015 and \u0013 REF _Ref164934121 \\r \\h  \\* MERGEFORMAT \u00143.29\u0015:\nLicence Agreement:\nCapitalisation:\nSubscription Agreement:\nRights of Shares:\nShareholders' Agreement:\n……………………………\n[University], acting by an authorised signatory\n……………………………\n[Founders]\n……………………………\n[Investor], acting by an authorised signatory\n……………………………\n[Company]\u000f\nAppendix\nPart 1\nShare Capitalisation Table as at the date of this Term Sheet\nPart 2\nPre-Completion Share Capitalisation Table\nPart 3\nPost-Completion Share Capitalisation Table","cbCail8R4kFKA92g","https://ap.wps.com/l/cbCail8R4kFKA92g","docx",200226,13,"English","# Background\n# Terms\n## Licence Agreement\n## Capitalisation\n## Subscription Agreement\n## Rights of Shares\n## Shareholders' Agreement\n# Appendix\n## Part 1 Share Capitalisation Table as at the date of this Term Sheet\n## Part 2 Pre-Completion Share Capitalisation Table\n## Part 3 Post-Completion Share Capitalisation Table","[{\"question\":\"What is the purpose of this term sheet?\",\"answer\":\"It sets out the main terms the parties intend to include in legal binding written agreements, covering IP licensing and the contemplated investment structure.\"},{\"question\":\"Is the term sheet legally binding?\",\"answer\":\"Most terms are not intended to be legally binding, except for specific paragraphs identified in the document.\"},{\"question\":\"What documents will be entered into alongside the licence arrangement?\",\"answer\":\"Alongside the intellectual property licence, the company will adopt new articles of association, and the parties will enter into a shareholders' agreement and a subscription agreement reflecting the term sheet.\"}]","Spin-Out and Investment - Term Sheet - Subject to Contract | DOCX"]