RE: CONVERTIBLE ROUNDS ARE NOT FASTER AND CHEAPER

You are viewing a single comment's thread from:

CONVERTIBLE ROUNDS ARE NOT FASTER AND CHEAPER

in technology •  7 years ago 

I really dislike the SAFE text, but leave that aside. I've done numerous CLA agreements that were a page or two; meaning, we negotiated them in less than a dozen hours. If you're two parties who want to close a deal within a week, then a CLA will work. A full equity transaction is still a mess, it's still a lot of paperwork and a lot of files that need to get organized.

Just think of the IP binder, if you're a good startup you need to map your open source code; you need to sign all the employees again and you need to start organizing the cap table.

I really prefer CLAs for anything; both when I'm representing the investor or the company.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!