Most VC investors use a standard term sheet for investment. Term sheets play a key role as they ensure difficult commercial discussions take place at an early stage. There are similarities in the key terms and trends in term sheets used by VC investors in the UK, France, Germany, Italy and the US, due to increasing standardisation. European VC investors have historically followed the lead of their US counterparts who operate in the most developed VC market worldwide. This article looks at the economic climate, term sheet trends and key terms.