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Tag along

A right that enables minority shareholders to force majority shareholders who wish to sell their shares to procure an offer for the shares held by the minority. Tag along rights act as protection for minority shareholders, in case they don’t like the identity of the incoming controlling shareholder(s).

Term Sheet

A term sheet is a (largely) non-binding agreement between parties to a proposed transaction, setting out specific transaction terms.

Total Addressable Market a.k.a. TAM

Total Addressable Market, or “TAM”, is the maximum revenue available in a market for a service or product.

See also: Serviceable Available Market Serviceable Obtainable Market

Refers to the momentum and progress a start-up generates as its business grows. Traction may start with developing an MVP, launching to trial customers, having paying customers and so on.