Deal Structure
Deal Spectrum
Also known as: Deal score, term scorecard, deal-term spectrum, composite score
A 1–10 scoring framework applied to every PE deal term, measuring one thing: who controls whether the founder gets paid. A 1 means the founder controls the money. A 10 means the buyer does.
WHY IT MATTERS
Why it matters. The Deal Spectrum is a TO-original scoring framework applied to every term in a PE deal. Each term gets a score from 1 to 10. A 1 means the founder controls whether and when the money arrives. A 10 means the buyer controls everything. Most founders never score their deal — they read the headline, trust their attorney, and sign. The Deal Spectrum forces a different question: across every term, who holds the leverage? A deal that scores 8.5 out of 10 isn't necessarily bad — but it means the founder should understand that nearly every structural element favors the buyer. The score is a diagnostic, not a verdict. It tells the founder where to negotiate and where to accept.