Posted by The Founding Member on 2008-03-13
Many members have asked TheFunded.com to develop a template for investment terms, and complaints about both the whole state of venture legal are common throughout the site. TheFunded.com wants to help founders and entrepreneurs organize and advocate for better terms and improvements to corporate structures that support their interests. More valuable common stock, additional founder or CEO role protections, simplified legal processes, and straightforward investment terms are shared goals among the nearly 6,500 Members.
So, here are some things that the Members can do to kick start improving venture legal:
(1) Members, if you support this initiative, AGREE with this post. It would be great to see over 100 Members in support of the initiate. Just login and click the to do so.
(2) Members, please add recommendations about proposed changes to the terms or legal structures in the Feedback to this post. Any specific ideas that you have are helpful.
(3) If you have a passion for improving venture legal, apply to join the venture legal action committee by using the feedback form here with Legal Action Committee in the body.
(4) Lastly, help to improve the state of venture legal by adding a summary of your received term sheet to the new Terms Section, helping both you and other entrepreneurs navigate term sheet negotiation.
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