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On September 16, 2014, VEB Innovations Fund and the VEGAS LEX law firm held a seminar on drafting a term sheet and other corporate documents needed to finalize a deal for venture investment funds and members of the IR&D club (Innovation and R&D Directors Club).

Alexander Garmaev, Senior Associate at VEGAS LEX Corporate Practice, spoke about shareholder agreements, listed types of agreements allowed by Russian laws and provided a comparative analysis, and identified the most widespread instruments used in such agreements in Russia and elsewhere.

Anna Nenakhova, Investment Director at VEB Innovations Fund, explained the notion of term sheet to the participants. After that the two speakers together discussed a case provided by one of the participants and gave their expert comments on the term sheet/shareholder agreement to be drafted.

They also gave recommendations for drafting term sheets, identifying the key points, the necessary conditions of the planned deal and the parties’ obligations.

The audience highly assessed the speakers’ presentations and thanked them for their comments, and expressed hope for another meeting in the future.

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* A Term Sheet is a document outlining the most essential aspects of a planned joint project between a business and potential investors. As a rule, it includes a description of the planned business, financing arrangements, distribution of equity shares, the preliminary structure of the deal and the planned corporate governance format.

**For more information on VEGAS LEX’s corporate law services, please go here.

***For more information on legal support of investments provided by VEGAS LEX, please go here.