Glossary

Term set

The group of deal terms — valuation, instrument, investor rights, and similar — that move together through a negotiation as one unit rather than being agreed individually and separately.

How Lengdon uses this

Deal terms in a Lengdon room move through a real propose, accept, and counter state machine, per term. A new proposed value resets both parties' prior acceptance, so a term only locks when both sides have accepted the same current value.