

AngelList Docs - Close your round online - PStamatiou
https://angel.co/docs

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PStamatiou
Seems like a natural fit for Naval et al. We used something similar last year
-- <https://www.clerky.com/>

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ivankirigin
I just incorporated using Clerky. Superb service.

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PStamatiou
New startup Ivan? Been a while, should catch up sometime!

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ivankirigin
Yes on both

[http://giantrobotlasers.com/post/26853484573/im-doing-a-
new-...](http://giantrobotlasers.com/post/26853484573/im-doing-a-new-startup)

Want to grab a beer tonight?

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nivi
Nivi from AngelList here. Please me know if you have any questions.

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StuieK
Just wanted to say thanks, you're making my life a lot easier.

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iag
+1. Thanks Nivi! You made our last funding effort so much easier, we can't say
enough good things about angel list. I look forward to trying angel docs for
my next startup when the time comes!

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Cherian
Cherian from Cucumbertown (<http://www.cucumbertown.com/>) here.

I think we were among companies to do the AngelList Docs online. Can answer
related questions.

Edit: First

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grabeh
If the documents are in relatively stable form and there won't be much
negotiation, it absolutely makes sense for a law firm to do this for free
particularly as you are then establishing a relationship with what is viable
start-up. At least in the sense that they have been able to attract financing
(which may or may not stand for very much in the long-term of course).

Of course, if the documents are in a relatively agreed form and are not
generally negotiated, it makes me wonder why a law firm needs to be involved
at all (speaking as a lawyer). Perhaps this is where Clerky comes in...

I also wonder if the free provision of legal services for the financing is
conditional on the company spending fees with WSGR on related agreements? I'm
sure there'll be a fair amount of pressure from WSGR for the start-up to use
WSGR's paid services.

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benmathes
Lots of details here: <https://angel.co/help/docs>

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salman89
First step to crowdfunding for equity online. I think AngelList is being smart
and honing down what that would begin to look like.

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borski
This is a brilliant move. A lot of entrepreneurs would likely still want to
take it offline (if their needs don't satisfy Series Seed) but for the
majority of people this will make life a whole lot easier - especially with no
legal fees! Brilliant move on AngelList's part.

Congrats Naval + Nivi.

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StuieK
Brilliant idea. The only other tools I use in conjunction with AngelList are
Trello (Investor management) and a mindmap for keeping track of who knows who
(AL has asynchronous following so their "You know via" isn't that helpful to
me personally)

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fieldforceapp
Nivi, great idea -- thanks! The fine print says WSGR will help (for free?) if
the startup is "qualified," what can you tell us about their qualification
process?

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naval
Yes, WSGR will do the closing for free, for any startup that they're willing
to take on as a client (i.e., credible). We'll be announcing other law firms
who will do the same shortly.

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salimmadjd
This is a good first step, the question is how much protection founders gets.
Are there any triggers if the founder is pushed out?

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naval
In most Series Seed financings, the Founders retain Board Control and can't be
pushed out by just the Investors. If they're pushed out by the other founders
and by the investors together, then their vesting agreement will govern what
happens.

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francov88
Wicked move. Love how it's so integrated into the platform.

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loceng
Sexy.

