Swedish StartupDocs launches today
A few weeks ago we introduced startupdocs.se which provides free, balanced and standardized legal documents for Swedish seed stage startups, angel investors and VC firms. Today, the website was launched.
Erik Byrenius, founder of startupdocs.se, initiated the project back in 2014. The process of developing the legal documents has been long, and he is happy the the website is now online.
“It feels great to finally release the documents, after almost a year of standardisation processes, discussions and drafting,” says Erik Byrenius.
The service includes templates for term sheet, shareholders’ agreement, a guide to stock options and more.
The typical user of StartupDocs is startups facing these legal issues for the first time when raising money, and who don’t want to spend too much time or money on unnecessary legal paperwork or negotiations. However, StartupDocs will also benefit angel investors and VC firms since using freely available standardised documents simplifies the negotiation and communication with the entrepreneurs.
“The documents represent normal terms in Swedish seed investments. Using our documents simplifies the investment process and guarantees that no party is tricked into accepting any absurd terms,” Erik Byrenius explains
Initially the service was only supposed to include the legal documents such as templates for term sheet and shareholders’ agreement. However, many also asked for a guide explaining how stock options work and the legal options to set it up. Erik Byrenius therefore decided to also include this.
“When discussing the standardised term sheet with entrepreneurs and investors, many of
them asked me if I also know how stock options works in Sweden. I’m now very happy to publish a complete guide to stock options in Swedish startups, and all the legal documents needed to implement it. Hopefully this will shed some light on how startups can use incentive schemes to attract talent,” he finishes
