风险投资（venture capital）中的TS即为投资意向书，可视情况翻译为“条款清单”或“投资条款清单”或“投资意向书”等。投资意向书（Letter of Interest，也就是风险投资行业常见的Term Sheet）是双方当事人就项目的投资问题，通过初步洽商，就各自的意愿达成一致认识表示合作意向的书面文件，是双方进行实质性谈判的依据，是签订协议（合同）的前奏。

Term Sheet的核心条款包括：

1，总体估值，即投资金额（Investment amount）和交易的总体估值。一家公司的估值根据已发行的股票数量乘以每股价格确定。估值是投资意向书中融资方最为重视的条款。

2，优先股，公司建立时期创始人会得到普通股（ordinary share），这代表着企业的所有权。它们也被称为创始人股份。风险投资者并不想要这些股份，相反，它们想要的是优先股（preferred shares）。

3，一票否决权，一票否决权（Veto power）的本质在于使优先股股东对公司某些行为拥有否决权。未经优先股股东同意，公司不得：变更优先股股东所持股份；授权发行更多股份；发行优于或等同于优先股股东持有股份的股票；回购；出售公司；变更公司章程或登记执照；变更董事会董事数量；支付或宣布支付股利；借债。

4，利润保证（Profit guarantee）

5，尽职调查（Due Diligence）

参考双语例句：

As I have said just now, the relevant fund often amounts to tens of million or even hundreds of million dollars, and since the minority shareholders do not have veto power, the Administration should specify that financial arrangements must be made so as to protect the interests of minority shareholders, with a view to ensuring that chances are provided to recover the relevant funds from the director once the judgment is given against him.

为了保障小股东的利益，而有关的资金又像我刚才所说随时以千万元甚至以亿元计，但小股东却没有否决权，当局应该规定须作出财务安排，以确保公司在董事败诉时能有一定机会向该董事取回有关的资金。

Article 24 the lead arranger, after consultations with the borrower, will send invitations to potential participating Banks, together with documents such as the syndicated loan term sheet, memorandum.

第二十四条牵头行经与借款人协商，向潜在参加银行发出银团贷款邀请函，并随附贷款条件清单、信息备忘录。

The Fund invests in corporate debt securities and debt securities issued by supranational organizations, and may invest in securities issued or guaranteed by national governments, supranational organizations securities, securitized loan participations, structured notes, mortgage-backed securities, asset-backed securities, repurchase agreements, collective investment schemes, convertible debt securities, preferred shares, warrants and other investments, which may pose additional risks to the Fund.

本基金投资于公司债务证券及由超国家组织发行的债务证券，并可投资于由国家政府所发行或担保的证券超国家组织的证券有抵押贷款参与权结构性票据按揭抵押证券结构属债务工具的资产抵押证券购回协议，集体投资计划可换股债务证券优先股认股权证及其他投资，本基金可能涉及额外风险。