Need some ready-made legal documents?
Angels and micro-VCs are an increasingly important part of the funding landscape for many of our clients, particularly those in the web and mobile application sectors. One side effect of all these new investors has been a proliferation of new variations of the standard legal documents presented to start-ups. Some good, but many bad.
The start-up community in the US responded to this same trend by rallying around a series of standard, open source, vanilla investment documents. Ted Wang of Fenwick & West, a Silicon Valley law firm was the first advocate of the new model that I’m aware of with a post in VentureBeat. He eventually created the “Series Seed” documents that are used by many leading angels including Ron Conway and Mike Maples. Others also made their documents publicly available, including Techstars, YCombinator and Founder’s Institute. All with the goal of simplifying the fund raising process for investors and for start-ups.
To read the full, original article click on this link: Open source seed documents « The RIC Blog
Author: Mark Zimmerman
