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hi im taeyang im head of legal here at jungle ventures and i want to take a little bit of time to talk to you about the legal basics for under health founders should understand term sheets term sheets are not meant to be something really difficult theyre not maybe something really challenging term sheets are really useful tool to make sure that everyone who is signing up to the term sheet is aligned in terms of very broad principles its not meant to be super detailed its not meant to exhaustively list out every single thing thats ever going to happen in the life of this company its about principles based alignment the only bits of the term sheet that usually are legally binding are things like confidentiality and the very basic mechanical things about whats the governing law of the contracts going to be which you know which country are we operating in and the cost coverage basically thats it i think its fair to say the length of term sheets varies a lot and its based on per