Let’s face it – no one likes Term Sheets. Lawyers dislike the concept because of how haphazard and vague the first cut of the document can be and business clients do not like the idea of having to read, edit and sometimes even incorporate language into a Word document. Love it or hate it, should we be wary of this seemingly rough and preliminary document that is based on the premise of being non-binding? We explore a recent development in today’s piece.