Startups raising money in Australia should spend less on legal fees. We want to help by open sourcing the documents we use to invest in companies.
The documents were kindly prepared by DLA Piper and a special thanks goes to Richard Horton, who believed in Startmate from the very beginning. If you would like to speak to him just contact us at hello at startmate.com.au and we can put you in touch. Our aim is to bring the total cost of a financing down to a few thousand dollars instead of $15,000 and these docs should help.
If you modify the documents or feel they are lacking something, please contribute the changes back as we’d like them to be a living thing and get better over time. Also, if you have any questions about startup legal terms just let us know in the comments.
Without further ado:
Term Sheet: A summary of the terms of the investment.
IP Deed of Assignment: The company owns the stuff you create not the people.
Subscription Agreement: Dealing with the financing
Shareholders Agreement: how everyone will get along.
Constitution: how the company will run itself.