CategoryBoard of Directors

The myth of the Common Director (who must always be the CEO)

“Model” term sheets don’t always make it easy to tell which deal terms are most important for an investor, or for a founder, or for the company as a whole.  The substance may be driven by investors, companies, founders and the market, but the structure is usually driven by lawyers, for lawyers.  The NVCA model term sheet – a term sheet built by lots of lawyers – is organized primarily... Great form, wrong director formulation

Some law firms (big emphasis on some) are adapting documents, technology and processes to drive out waste and reduce costs – just as the startups we represent are doing in their industries.  My colleague Jose Ancer calls it The Economic Deflation of Startup Law.  The startup legal environment has continued to change for the better, and part of that has been built on the continued move to more...

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