Funding Documents
A couple of organizations have recently published their funding documents, allowing both entrepreneurs and investors alike to get a sense of various terms, clauses, expectations, and more. Below are links to these documents, allowing you to download and educate! Please note that we did not author these documents but are only sharing them with you. You should always have a qualified and experienced attorney review any legal agreement, and all the legal mumbo jumbo about using these at your own risk, we’re not liable, etc apply here.
TechStars Model Documents
Thanks to David Cohen for sharing these and Mike Platt at Cooley Godward Kronish, LLP for authoring!
- Term Sheet – basic agreements about the investment
- The Restated Articles of Incorporation – document existance and treatment of new class of stock
- The Bylaws – how the corp will be goverened
- The Subscription Agreement (or Stock Purchase Agreement) – documents the actual investment
- Board Member Election Consent which elects the board member representing the investors
National Venture Capital Association Model Documents
- Term Sheet
- Stock Purchase Agreement
- Certificate Of Incorporation – showing you are a filed corporation
- Investor Rights Agreement
- Voting Agreement
- Right of First Refusal and Co-Sale Agreement
- Management Rights Letter
- Indemnification Agreement
- Model Legal Opinion
Y Combinator Model Documents
- Series AA Termsheet
- Series AA Stock Purchase Agreement
- Series AA Board Consent
- Series AA Stockholder Consent
- Series AA Amended and Restated Certificate of Incorporation
- Series AA Investors’ Rights Agreement
Finally, the Angel Capital Association has a smattering of international documents as well.
