I just found out from Altgate.com that Wilson Sonsini has launched a “Term Sheet Generator.” Here is WSGR’s description of the free tool:

This tool will generate a venture financing term sheet based on your responses to an online questionnaire. It also has an informational component, with basic tutorials and annotations on financing terms. This term sheet generator is a modified version of a tool that we use internally, which comprises one part of a suite of document automation tools that we use to generate start-up and venture financing-related documents.

Furqan Nazeeri at altgate.com seems to have the scoop on the evolution and future of the term sheet generator in his post here.

I’ve only had a few minutes to check out the term sheet generator, but like most other open sourced legal documents, I think it’s great.

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