Only a few days later, I’m needing to break my own “Top 10” rule and add two more valuable resources, making it an even dozen. For founders who want to get into the nitty-gritty details of venture capital and angel financing documents, there are two online resources from leading Silicon Valley law firms that are well worth your time.
I offer these links notwithstanding my own strong belief that there is a time and a place for DIY projects; as an entrepreneur, negotiating the finer deal points of selling precious shares of equity in the fruits of your life’s labor is not like changing the oil in your car. (I’d liken it more to rebuilding the engine yourself–or at least doing a ring and valve job on a V8.) A professional who’s seen the full range of deal terms over the course of many deals for many startups can add value far beyond legal wordsmithing. Nevertheless:
- Founders are smart, independently minded and curious people;
- Selfishly (for me), an educated client needs less hand-holding and is a joy to work with;
- Selfishly (for you), the more homework you do first, the quicker the funding process can move and the less it will cost in legal fees; and
- Some brave souls will go ahead and DIY anyway (see #1), so go forth and conquer–and then call me when you’re ready to hire a lawyer for your next deal!
After that soapbox preamble, here they are: Continue Reading