Part 3 Control Terms: Who Really Runs the Company?

You've agreed on the valuation. You've pushed back on preferences. The economics seem fair.

Then you hit the control section of the term sheet — and the power dynamics start to shift.

Because here's the thing:

You can own 60% of the company and still not be in control.

This is where term sheets subtly change the game for founders. Control terms are about who makes the decisions, who sets the direction, and who can say no or yes, even if you built the company from scratch.