Anthony Cerminaro of Deal Attorney points to a set of model venture capital documents released by the National Venture Capital Association. If your company is involved in venture capital deals or anticipates receiving or making venture investments, these documents are worth a look.
The NVCA has provided the following documents:
- Term Sheet
- Stock Purchase Agreement
- Certificate of Incorporation
- Investor Rights Agreement
- Voting Agreement
- Right of First Refusal and Co-Sale Agreement
- Management Rights Letter
- Indemnification Agreement
According to the NVCA, the "documents are intended to reflect current practices and customs" with a goal "to reflect ‘best practices’ and avoid hidden legal traps, even if doing so means straying from current custom and practice." The NVCA will meet once a year to discuss changes to the documents and update them accordingly.
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