Glossary

Engagement Letter

An engagement letter outlines the terms of a client relationship. Businesses and clients who agree to work together under certain terms often use an engagement letter to put the details of the agreement in writing.
This glossary provides an overview of some key legal terms for startups. It's essential to consult with a legal professional to ensure a comprehensive understanding of these terms and their implications for your specific situation.

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Debt Service Coverage Ratio
The debt service coverage ratio (DSCR) is a financial ratio that assesses a company’s ability to service its debt. If the company has sizable capital expenditures (CapEx), you can calculate DSCR after deducting capital expenses.
Anti-dilution
A protective provision for investors that adjusts their equity ownership percentage in the event of a future funding round at a lower valuation, ensuring their stake is not reduced unfairly.
Liquidity Event
A liquidity event is an exit strategy that private company ownership uses to cash out all or a portion of shares.

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