If you are a reader of this blog, or Brad’s you know that we are keenly interested in the ideal that we should be able to arrive at a model document set for venture financings.
Whereas, I argued that he’d never succeed in coming up with a standard set of seed documents, I used the story of the model form document project from the NVCA. The project actually produced model forms of documents, but most of us were disappointed by the actual usage. In my opinion, this was because the documents had too many options and took lawyers a while to deal with them. (For instance founders reps which you never see on the West Coast and things like that).
But at the same time, these documents live and breathe and are updated by some of the great minds in our business on a regular basis. I feel safe in saying that are more vibrant and accurate than most law firms.
Today, I’m delighted to announce that our portfolio company Brightleaf has released their platform including the standard form of NVCA documents. In short, their document automation and assembly software can save lawyers a ton of time using the NVCA forms, while giving them the piece of mind that they are always using the latest and greatest forms in the business.
Oh yeah. Did I mention that it’s FREE?
They are offering free “NVCA ASAP” trial accounts to a limited number of VC’s and Emerging Companies law firm practices. For more information about the project (and how to get a trial account) please visit their NVCA ASAP page here. For a quick overview demo of how Brightleaf works, watch the video here.
This could quite possibly be the tipping point in getting us to one standard set of documents. Maybe Brad won’t fail after all.