The NVCA Model Legal Documents are the industry-embraced model documents that can be used in venture capital financings. They reduce the time and cost of financings and free principals time to focus on high-level issues.
The model documents:
- Reduce transaction costs and time
- Reflect, guide, and establish industry norms
- Be fair; avoid bias toward the VC or the company/entrepreneur
- Present potential options, reflecting a variety of financing terms
- Include explanatory commentary where necessary or helpful
- Anticipate and eliminate traps for the unwary (e.g., unenforceable or unworkable provisions)
- Provide a comprehensive set of internally consistent financing documents
The General Counsel Advisory Board meets approximately once annually to review and revise the documents to reflect any legal developments. Document users may send comments or suggestions to Jeff Farrah by emailing firstname.lastname@example.org.