AngelList Docs - Close your round online

AngelList Docs user here.

The docs make it pretty much a tabular affair. Choose the cap, the money, the discount, acquisition multiples, etc and you are done.

This makes for easy work, both with your lawyer and the investors.

If the documents are in relatively stable form and there won't be much negotiation, it absolutely makes sense for a law firm to do this for free particularly as you are then establishing a relationship with what is viable start-up. At least in the sense that they have been able to attract financing (which may or may not stand for very much in the long-term of course).

Of course, if the documents are in a relatively agreed form and are not generally negotiated, it makes me wonder why a law firm needs to be involved at all (speaking as a lawyer). Perhaps this is where Clerky comes in...

I also wonder if the free provision of legal services for the financing is conditional on the company spending fees with WSGR on related agreements? I'm sure there'll be a fair amount of pressure from WSGR for the start-up to use WSGR's paid services.

Yes on both

http://giantrobotlasers.com/post/26853484573/im-doing-a-new-...

Want to grab a beer tonight?