Fundraising deals are won in meetings and lost in paperwork. A term sheet is short, looks harmless, and contains clauses that decide who gets paid first, who controls your company and who owns your game. This chapter walks through the ones that matter most in European practice: investor rights and the pre/post-money math, the liquidation-preference trap, convertible loans, IP protection, and the two non-negotiables of every project deal. None of it replaces a lawyer. All of it makes you a cheaper client and a harder person to surprise.