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Tim Wolters on The Liquidation Preference

Tim Wolters – the CTO of Collective Intellect – is in the middle of a financing and blogging about some of the terms.  Today’s is the liquidation preference.  It’s interesting to compare it to what Jason and I wrote in 2005 about liquidation preferences in our Term Sheet series.

Tim Wolters – the CTO of Collective Intellect – is in the middle of a financing and blogging about some of the terms.  Today’s is the liquidation preference.  It’s interesting to compare it to what Jason and I wrote in 2005 about liquidation preferences in our Term Sheet series.

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Model Seed Documents – Direct From Techstars

Today, our friends at Techstars posted their model forms of seed financing documents. Techstars worked with Brad, myself and very closely with Cooley Godward Kronish, LLP (and specifically Mike Platt) to put together a set of “Model Seed Funding Documents” that anyone can use. There are five primary documents in the set: Term Sheet Articles […]

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Venture Capital / Lawyer Term Sheet Humor

Last week I attended a dinner put on by Ed Zimmerman and the fine folks at Lowenstein Sandler.  Ed has been an active participant in the NVCA model documents initiative and I’ve gotten to know him through the years as someone who is passionate about what he does, which among other things, is law and […]

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What are Supra Pro-Rata Rights?

Q: Can you explain what supra pro-rata is? It seems to be showing up in some VC term sheets now. What’s the impact on the entrepreneur? How hard should one try to negotiate it out? If a VC insists on this term, should the entrepreneur walk away? A:  (Jason)  First of all, for those of […]

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