Venture capital financings continue to be one of the most popular methods through which technology start up companies raise funds. In this presentation, part of an ongoing new series, Peter Townshend and George Colindres of McDermott Will & Emery LLP focus on the "VC" term sheet, using it as a springboard to discuss the meanings and legal implications of various VC financing terms of art, the purpose of the various documents in a financing and how these terms and financing documents affect emerging companies and their founders.