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NVCA Model Legal Documents

National Venture Capital Association · nvca.org Free Advanced

The US venture industry's standard financing documents, including the model term sheet, which is the reference for what 'market standard' means on each clause.

  • Compare any term you are offered with the model term sheet's default.
  • Footnotes explain why each clause exists and what the alternatives are.
  • Indian rounds use CCPS and a shareholders' agreement, but the economics are the same.
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The question it answers

  1. How do I negotiate with investors?

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