Startup 101: “Open Source” Start up Legal Documents

VC Cafe

Legal docs don’t have to be a source of stress when you’re trying to set up a business. Don’t use these documents blindly ” Taylor Wessing – offers a suite of seed investment documents which are available on an open-source basis.

Ask the VC Bonus Material

Feld Thoughts

As a step in the right direction, Jason and I decided to open source our Foundry Group form legal documents. Included are our standard forms for the following: Series A Term Sheet. Venture Deals askthevc deal docs Term Sheet venture deals

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Burnham's Beat: Wigix: An Idea Whose Time Has Finally Come

Burnham's Beat

« 4 Things to Do After You Get Your First Term Sheet | Main. It’s interesting to note, that many stocks and bonds were also once traded using English Auctions, but once bid/ask-based exchanges opened, the purveyors of these English Auctions quickly disappeared. Open Source. Open Source. Burnhams Beat. Articles on Technology and Finance. About Bill. Archived Posts. Blog Roll. IPO/M&A Lists. By Category. By Month. Recent Posts. Internet IPOs.

IPO 24

The Proliferation of Standardized Seed Financing Documents

Feld Thoughts

Founders Institute Plain Preferred Term Sheet (by WSGR). I wrote about this in my post The Challenge of The Ideal First Round Term Sheet. Then we’ll open source these and evangelize them across the startup world, at least in the US. Tags: financing seed documents Term Sheet

Examples of good startup term sheets

www.quora.com

Find Questions, Topics and People Add Question Add Question Venture Capital Venture Capital Term Sheets Startups Term Sheets What are examples of good startup term sheets? Ycombinator open source term sheet is a good start for Seed deals.

How Convertible Debt Works

Feld Thoughts

Convertible Debt – Other Terms. If you want to see an actual convertible debt term sheet or the actual legal documents, take a look at the TechStars Open Sourced Model Seed Financing Documents. Last night I gave a talk hosted by SVB at their Palo Alto office. It was part of the “Never Ending All Old Is New Again Venture Deals Book Tour.”

Understanding Changes in the Software & Venture Capital Industries

Both Sides of the Table

Open-Source Software & Horizontal Computing. It was driven by the introduction of open-source software, most notably what was called the LAMP stack. Open source became a movement – a mentality. The Emergence of “Open Cloud&# Infrastructure.

Soylent

Chris Dixon

Shortly after that conversation I got an email from Jordan Cooper about a company he was investing in called Soylent that was taking an open-sourced approach to developing science-based food products. Seen through the lens of Borthwick’s comment, it was an obvious investment – a few days later we signed a term sheet to lead the seed round. source. source. source.

Teaching Entrepreneurial Finance Using Venture Deals

Feld Thoughts

Over the past six years, Jason Mendelson and I have heard from over 100 professors who have used our Term Sheet Series of blog posts in college (undergraduate and graduate) programs on on entrepreneurship. They’ve recently open sourced the syllabus and we’ve put up a page on AsktheVC for anyone teaching a course using Venture Deals.

Startup Resources

www.vccafe.com

VC Cafe highlights everything you need to know from hosting your code in hackathons to open source legal docs. Lean Methodology Sources. High Quality, and open sourced! Cheat Sheets : Equip youself with HTML/CSS cheatsheets! Mantis (Open source).

How do the sample Series Seed financing documents differ from typical Series A financing documents?

Startup Company Lawyer

After the recent announcement of the Series Seed Financing documents by Marc Andreesen, Brad Feld points out that there are now four sets of “open source&# equity seed financing documents: TechStars Model Seed Funding Documents (by Cooley). Founders Institute Plain Preferred Term Sheet (by WSGR – disclaimer, I represent the Founders Institute and was involved in drafting this document).

@altgate » Blog Archive » Law Firm Wilson Sonsini Now Preparing.

Altgate

 Today,  Wilson Sonsini  announced the launch of a " term sheet generator." "  It's basically a web tool that creates draft preferred financing term sheets for startups.

Web 0

Startup Tools

steveblank.com

interactions, widgets, effects Django – high-level Python framework Cappuccino – open source framework for app development Kodingen – cloud development environment, code editor, hosting service, collaboration platform. Are your lectures (in b-schools) open to public?

Burnham's Beat: SkyGrid and the Emergence of Flow-Based Search

Burnham's Beat

4 Things to Do After You Get Your First Term Sheet » 02/13/2008. It can be days or even weeks before newly published content is crawled and properly indexed, meaning that most search engines fail to provide "real time" results for all but the most popular content sources (which they crawl very frequently). Open Source. Open Source. Burnhams Beat. Articles on Technology and Finance. About Bill. Archived Posts. Blog Roll.

Series Seed Financing Documents

www.seriesseed.com

  Based on the comments received, both on the blog and in the many deals in which these documents have been used, I am convinced that the terms of a simple set of equity documents are really not an issue.  In sum, Series Seed creates a level playing field between capped debt and equity documents in terms of speed and cost.  2) Redline - Series Seed Term Sheet (1 v. Series Seed Term Sheet (v 2.0)

Getting Due Diligence Ready

StartupCFO

Investors will perform business diligence before they issue a term sheet. Open source exposure : Everything is built on top of open source technologies today. It is important to keep an ongoing list of open source software used and what license you are using.

Are You Raising Too Much Money?

Inc Startups

Raising smaller amounts tends to keep your options open and your investors’ expectations reasonable. New technologies, such as pay-as-you-go cloud computing and open source software, make it much cheaper to start a high-growth business with small amounts of capital.

Standardized Venture Funding Docs

A VC : Venture Capital and Technology

Marc Andreessen told PE Hub : It’s like open source software. First, as Brad Feld points out , there are now four sets of "open source seed documents: TechStars Model Seed Funding Documents (by Cooley). Founders Institute Plain Preferred Term Sheet (by WSGR). I guess it's like open source software in that there are many flavors of it out there. All will get the job done and all are open source.

Congrats to Backupify! A Great Exit Story for the First Company I Ever Backed

This is going to be BIG.

He was an interesting guy and I watched him throughout a bunch of interesting projects, like a complete open source business where all the employees got to make the decisions. Less than 100 days into joining FRC after winding down my startup, I offered my friend Rob the first term sheet I ever sent out--to lead the seed round of the company I accidentally inspired with a Tweet. He took a long term view and jumped in with a check.

Understanding the Risks of VC Signaling

Both Sides of the Table

We used the Y Combinator open source term sheet. We signed the term sheet within 48 hours and had funded in under 2 weeks. If you accept my terms you’re done. They elected to sign my term sheet.

The Forgotten Founder: YouSendIt’s Khalid Shaikh

Inc Startups

When you're a given a term sheet, it's like the queen knighting you; you are supposed to genuflect for even gracing you with terms." First, to save money, the team decided to switch the servers from expensive Windows software to open-source Linux.

Raising Money? Don't Get Ripped Off

Inc Startups

Recently, we have seen the emergence of "open source" financing documents—and there seems to be a widely held belief that these forms are the cure-all to the epidemic of skyrocketing legal fees.

Model Series Seed Docs

The Startup Lawyer

The drafters are “open sourcing&# the documents so that they may be continually improved by the startup community. 4) Term Sheet. The term sheet summarizes the provision found in the documents 1-3 above, but also includes a $10,000 legal fee reimbursement (cap) for investor counsel and a 4 year vesting schedule with double trigger acceleration for the founders.

Model Series Seed Docs

The Startup Lawyer

The drafters are “open sourcing&# the documents so that they may be continually improved by the startup community. 4) Term Sheet. The term sheet summarizes the provision found in the documents 1-3 above, but also includes a $10,000 legal fee reimbursement (cap) for investor counsel and a 4 year vesting schedule with double trigger acceleration for the founders.

Piercing the Corporate Veil of Sweat Equity

grasshopperherder.com

As such, you should make sure to think of the proposals as an investor and get a reasonable term sheet. This then opens you up to risk from the IRS as well as the consultant. Blame Culture: “Who Gets Shot” National Endowment for Open Source.

VC Seed Funding is Dead, Long Live VC Seed Funding!

Both Sides of the Table

With open source software (LAMP stack) and cloud computing infrastructure it just wasn’t that expensive to get your company going and founders just wanted to raise less money. If a VC term sheet comes in they begin their due diligence process.

How Snapchat's First Investor Found Snapchat Before Anyone Else

Inc Startups

Based in Santa Monica, Whisper lets users anonymously share secrets in a safe, supportive environment, like an open-source diary. On Friday, Liew sent Heyward -- who hadn''t been interested in raising a round of financing -- a term sheet.

Bitesize Sunday: Israeli startup headlines March 8

VC Cafe

Open-source term sheets, certificate of incorporations and more posted on Series Seed , a site created by by Marc Andreessen, First Round Capital and Fenwick & West attorney Ted Wang.

How To Grow and Scale A Culture with Limited Funds – Alicia Navarro

Business of Software Blog

He also talks about how Facebook never took off the signs of Sun off their doors, so that they always… every time you open up a meeting-room door, you would always be reminded of what you will become if you do not move quickly every day. Open-minded, which is quite important to us. This is one of my favourite things to do, and I do it deliberately, because, as I said, open-mindedness is a very important cultural value for us.

Fear is the Mind Killer of the Silicon Valley Entrepreneur (we.

500 Hats

Home Best of 500 Hats About Dave Startup Metrics Dave on Twitter Archive Pages About 500 Hats & 500 Startups About Dave McClure About Dave follow me on Twitter Top Hat Posts Google Open Social vs. Facebook Platform (aka: Open Standards are for Losers.

Series Seed Financing Documents

www.seriesseed.com

Series Seed Term Sheet (v 2.0). Series Seed Term Sheet. Long term capital gains possible for early exit. Ted - I think if you simply remove the spaces in the file names, that should solve the download problems, e.g. the term sheet doc should be renamed to "SeriesSeedTermSheet.doc" Same with the others. :). Choose "Open With" and able to save as Word doc. SeriesSeed.com.

supermac War Story 7: Rabbits Out of the Hat - Product Line Extensions

Steve Blank

Burnham's Beat: Don't Take Angel Investments From VCs

Burnham's Beat

  The VC that invested in the angel round tried to the pre-empt the Series A fundraising with a low-ball term sheet, but the entrepreneur thought he could do better and politely told them “thanks, but i’d like to test the market”.  Open Source. Open Source. Burnhams Beat. Articles on Technology and Finance. About Bill. Archived Posts. Blog Roll. IPO/M&A Lists. By Category. By Month. Recent Posts. Internet IPOs. Internet M&A. Software IPOs.

Burnham's Beat: 10 Pragmatic Steps To Raising Venture Capital

Burnham's Beat

The harsh reality is that you face an uphill battle to get a meeting, let alone a term sheet, but the good news is that by taking a pragmatic approach to getting your foot in the door you can greatly improve your chances. It also helps to rank this list by age, because younger partners are less likely to have significant “recycled” deal flow and therefore more open to newcomers. Open Source. Open Source. Burnhams Beat.

Maximum Impact

This is going to be BIG.

In the meantime, I've been mostly focused on deal stuff and have been super excited to get as many deals done as I have--four assuming this last term sheet closes. I've been toying with the idea of open sourcing some kind of startup education program or making it a multi-school thing, but again, not sure how I can feed myself with that. Sounds like a Jean-Claude Van Damme movie doesn't it?

Lose Yourself - VCball

VCball

Terms of Service. Not only did my family and friends support me to the tune of several hundred thousand dollars, but in 1996, we received multiple term sheets for several million dollars from some of the most prestigious early stage VCs at that time. Clay Shirkys Writings Writings About the Internet: Economics & Culture, Media & Community, Open Source. VCball.

The Why of Where I Write

Hunter Walker

This is total inside baseball but here’s how I think of my personal publishing today: HUNTERWALK.COM : My blog, the flagship of my media empire ;-) Call me old-fashioned, but I like having my own dry piece of land, a URL to call my own that’s unlikely to experience changes in terms, UI, etc outside of my control. Under Matt, Toni and Raanan’s leadership they’ve been consistent and committed to their values – open source, distributed workforce.