Toronto (February 28, 2017) Caravel Law (formerly Cognition LLP) today announces it has partnered with the National Capital Angel Organization (NACO) as a Legal Services National Partner and Founding Partner of NACO’s recently announced Common Docs Project.
The Project will develop standard document templates that will be broadly applicable to NACO members and other investors as a starting point for negotiating investment terms with startups. The resulting templates will act as a reliable guideline for both investors and founders and cover 80% of the content (terms) required to negotiate investments in 80% of member early-stage investment scenarios.
The goals of the project are to develop open source, publicly available standard documents that align the interests of founders and funders, position companies for future investment and growth, protect the rights of investors, and reduce the friction inherent in negotiating deal terms.
NACO CEO and Executive Director, Yuri Navarro says, “Our goal with the Common Docs Project is to keep deals simple, correct, and get them done quickly!” Navarro continues, “We’re going to start with the documents our members tell us are most essential – basic term sheets for common equity, preferred equity, convertible debt and convertible equity. We’re pleased to partner with some of the best law firms in Canada including Caravel Law to help us develop Canadian standards for these key financing documents.”
Caravel Law Co-Founder, Rubsun Ho adds, “We’re excited to help NACO bring standardized financing documents to Canada. While some work to make standardized, best of class documents available to companies and investors has been done in the United States, we’ve been slower here. NACO’s Common Docs Project is the right initiative at the right time and we’re thrilled to be part of it.”
“We’re also happy to include all these standard documents on our recently announced Compass platform”, continues Caravel Co-Founder, Joe Milstone. “Caravel Law Compass gives investors and companies free access to state of the art document generation technology – so these great documents from NACO can be custom-tailored and then fully generated with one click!”
About Caravel Law Compass
Caravel Law Compass provides best of class financing documents to startups and investors on Canada’s first freely available document automation platform.
Visit http://compass.caravellaw.com to try it today!
About Caravel Law
At Caravel Law, we believe legal solutions should be more satisfying for customers and for lawyers.
With over 50 world class lawyers, we leverage technology to connect with businesses in a more responsive way – and we focus on happy clients and happy lawyers. We deliver these responsive, tech-enabled solutions at prices 50% to 70% lower than traditional Bay Street law firms. Our mission is to disrupt the legal marketplace and serve businesses in a better, more customer-focused way – “We want to be Your Counsel”.
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