You have a website idea, you want to develop it further, you’ve even found somebody with money who thinks you and your team are great, and wants to invest. Now you have to figure out what the terms of the deal are going to be. Oh, gawd. How many weeks are you going to spend getting familiar with the law? Or are you going to hire an expensive attorney and trust his/her word? Not only that — how do you even begin to think through a valuation of something that doesn’t even exist yet? All of that sounds terrible, of course, and a waste of everyone’s time. It is. And most deals are similar enough that, if you had a friend who had done a deal before, you’d probably copy-and-paste his contract and then modify it somewhat for your situation, if only just to own the experience a bit. How propitious of YCombinator to share their experience with everyone in the form of directly usable documents. Efficiency up, lawyers down. Awesome.

Open Source Contracts

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