At seed, keep it simple—focus on the handful of economic and control terms that move outcomes:
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● Valuation and option pool sizing (pre‑ vs post‑money).
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● Liquidation preference (1× non‑participating is typical at seed; participating preferences are costlier for founders).

● Pro rata rights (your ability to maintain ownership in later rounds).

● Information rights (financial and KPI updates).

● Major investor threshold (to receive certain rights).

● Protective provisions (limited vetoes on major actions).

Avoid excessive complexity that can spook future rounds. Seek alignment: clean docs, a realistic pool, and pro‑rata to follow winners. If a deal includes unusual preferences, ask why—and model exit waterfalls before you sign.