Quality, default legal documentation; I wish there was more of it. That sums up the entirety of this post.
A startup has a massive hurdle to surmount when it comes to legal documents. Whether they are for founders, investors, employees, clients, or just the terms of service and privacy policies. Once these are in place, it’s not so expensive / time consuming to start with your standard form.
Fred pointed out a few template contracts for term sheets floating around from
TechStars Model Seed Funding Documents (by Cooley)
Y Combinator Series AA Equity Financing Documents (by WSGR)
Founders Institute Plain Preferred Term Sheet (by WSGR)
Series Seed Financing Documents (by Fenwick & West)
…but then went right on to point there limited value – all are missing something he wants to see in the terms.
And there are tons of sample contracts floating around the internet for other things… but they have similar or worse flaws. Start with a free template and chances are your going to need to start over or completely re-write it anyway.
I almost used an NDA once, that thankfully, I found was a big pile of unenforceable garbage before using. From the multi-page crap doc, we ended up with an easy to read, one-page document that worked.
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