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Note that this document is intended only for US companies.
This document was produced and made available as part of the KISS (“Keep It Simple Security”) set of deal documents (including summary of terms) by 500 Startups, accompanied by the following disclaimer: You are encouraged to review the terms of the KISS documents with your own lawyer before using them. 500 Startups does not assume any responsibility for any consequence of using KISS.
Note that the default values presented in the Cooley GO Docs generator reflect those specified by 500 Startups. Also note that the documents were designed for Delaware corporations only. This workflow allows you to customize the fields that the original creators of the form have left blank – of course any other aspects of the document (including the $50,000 “Major Investor” minimum, the $1,000,000 “Next Equity Financing” trigger, details regarding the timing and specifics of financial statement delivery, “most favored nation” terms, etc.) can be customized in the generated documents.
Cooley LLP, each entity affiliated with Cooley LLP including Cooley (UK) LLP and Cooley SG LLP* and the respective partners, employees and agents of the foregoing (collectively, “Cooley”) do not endorse or recommend the use of any default values or any document on CooleyGO.com, nor is Cooley expressing any opinion or recommendation of what is, or what should be, a “market” standard document. Deal terms should be negotiated based on your specific circumstances and the relevant documents should be tailored to meet the specific legal and commercial requirements of the contemplated transaction. Additional documents may be required for the contemplated transaction. Cooley assumes no responsibility for the contents of the documents provided on CooleyGO.com or any consequence of your use of any such documents. You are responsible for ensuring that all necessary securities filings and/or other legally required filings, if any, are prepared and filed. You should consult with an attorney licensed to practice in your jurisdiction as well as tax advisors before using or relying on any documents on CooleyGO.com, especially if you don’t understand any of their terms. Review carefully and use at your own risk. No document or information provided on CooleyGO.com constitutes or should be relied upon as legal advice.
*Cooley SG LLP (UEN/Registration No. T19LL1477F) is a licensed foreign law practice registered in Singapore under the Limited Liability Partnerships Act (Chapter 163A) with limited liability.
