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1. Parties: Identification of all parties to the proposed joint venture, including full legal names and registration details

2. Background: Context of the proposed joint venture, including the parties' objectives and rationale for collaboration

3. Definitions: Key terms used throughout the term sheet

4. JV Entity Structure: Proposed legal structure, jurisdiction of incorporation, and business name of the joint venture

5. Business Scope: Detailed description of the joint venture's intended business activities and any territorial restrictions

6. Capital Structure: Initial capitalization, equity split, and funding commitments from each party

7. Board Composition: Structure of the board, appointment rights, and voting mechanisms

8. Management: Key management positions, appointment rights, and reporting structures

9. Reserved Matters: Decisions requiring special majority or unanimous approval

10. Transfer Restrictions: Limitations on transfer of shares and rights of first refusal

11. Confidentiality: Binding provisions regarding confidential information

12. Exclusivity: Period and terms of exclusive negotiations

13. Binding Effect: Clarification of which provisions are binding and non-binding

14. Costs: Allocation of costs related to the JV formation

15. Governing Law: Applicable law and jurisdiction for disputes

1. Initial Business Plan: High-level outline of the proposed business plan and key milestones

2. Capital Contributions: Detailed breakdown of initial capital contributions (cash and non-cash)

3. Reserved Matters List: Comprehensive list of matters requiring special approval

4. Key Management Positions: List of key positions and initial appointees

5. IP Schedule: List of key intellectual property to be contributed or licensed

6. Implementation Timeline: Proposed timeline for JV formation and key next steps

7. Pro Forma Financials: Initial financial projections and key assumptions