• June 2019
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“TATS” Tradable Automated Term Sheet

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Introducing “TATS” Tradable Automated Term Sheet.

Facilitate trading of shares

Curated for non-public companies
Sell the right way

What are TATS

The TATS (tradable automated term sheet) is a new angel investment term sheet Draper Associates and Brubaker Law brought to LawTrades to make standard for our customers. This will allow startups to be eventually tradable if not public and automated so people can easily manage their private shares. TATS is an addendum to the Series Seed investor term sheet for startups. During its development TATS was reviewed by top Silicon Valley investors and attorneys. We believe it is a legal step in the right direction for both investors and founders. As with everything else, we plan on iterating TATS over time. If you have any comments or suggestions on how we can improve or be on a list of investors who has agreed to accept these docs, let us know by sending an email to support@www.lawtrades.com or @lawtrades on Twitter.


Details

The Tradable, Automated Term Sheet (“TATS”) (and corresponding investment documents) is designed to facilitate trading of shares of non-public companies. We have taken the standard set of Series Seed financing documents, available at seriesseed.com, and modified them to allow for, in certain circumstances, the transfer (sale) of private company stock by those early stage investors. The idea here is to incentivize investors by allowing them the option of earlier liquidity, hopefully allowing more startups to have access to funding.

In addition to adding the transferability of shares by investors, we have also added a Co-Sale right for the investors to the seriesseed.com documents. This allows investors a right to sell, in proportion to their ownership, alongside any proposed sale of shares by Founders. This also gives investors an incentive by providing them a possible option at earlier liquidity. 

The TATS may not be applicable or advisable in every situation. Please contact an attorney before using these forms for any investment. LawTrades does not assume any responsibility for any consequence of using the TATS, including failure to comply with any applicable federal or state securities law.


What are TATS

The TATS (tradable automated term sheet) is a new angel investment term sheet Draper Associates and Brubaker Law brought to LawTrades to make standard for our customers. This will allow startups to be eventually tradable if not public and automated so people can easily manage their private shares. TATS is an addendum to the Series Seed investor term sheet for startups. During its development TATS was reviewed by top Silicon Valley investors and attorneys. We believe it is a legal step in the right direction for both investors and founders. As with everything else, we plan on iterating TATS over time. If you have any comments or suggestions on how we can improve or be on a list of investors who has agreed to accept these docs, let us know by sending an email to support@www.lawtrades.com or @lawtrades on Twitter.


Details

The Tradable, Automated Term Sheet (“TATS”) (and corresponding investment documents) is designed to facilitate trading of shares of non-public companies. We have taken the standard set of Series Seed financing documents, available at seriesseed.com, and modified them to allow for, in certain circumstances, the transfer (sale) of private company stock by those early stage investors. The idea here is to incentivize investors by allowing them the option of earlier liquidity, hopefully allowing more startups to have access to funding.

In addition to adding the transferability of shares by investors, we have also added a Co-Sale right for the investors to the seriesseed.com documents. This allows investors a right to sell, in proportion to their ownership, alongside any proposed sale of shares by Founders. This also gives investors an incentive by providing them a possible option at earlier liquidity. 

The TATS may not be applicable or advisable in every situation. Please contact an attorney before using these forms for any investment. LawTrades does not assume any responsibility for any consequence of using the TATS, including failure to comply with any applicable federal or state securities law.


Reviews

Ester, W.

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Very helpful in connecting me to the right lawyer with the right expertise. Highly recommended!

Chris M.

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Working with my lawyer assign Jon H. was very easy and seamless. He was quick, attentive and answered my questions and concerns in a timely manner. Definitely recommend you and his services.

Hassan A.

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It was so easy to manage through the text interaction when I got started. It was easy, fast and painless. I am very impressed

Jill J.

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Great experience all around, LawTrades was just so much more personal and much better than other startup/online on-demand solutions for legal work,. Almost feels like I handpicked and hired the attorney myself. The Attorney was available to answer questions by phone or text message, so was the LawTrades rep who set the whole thing up. And when setting up new entities you always have questions, so this was a big deal for me.

Ori A.

⭐⭐⭐⭐⭐
Great experience all around, LawTrades was just so much more personal and much better than other startup/online on-demand solutions for legal work,. Almost feels like I handpicked and hired the attorney myself. The Attorney was available to answer questions by phone or text message, so was the LawTrades rep who set the whole thing up. And when setting up new entities you always have questions, so this was a big deal for me. The Attorney assigned to my project was available on demand to help out explain things every step of the way and I think the guys at LawTrades have done a great job with making you feel extremely comfortable. After all was done I even got an email and a call from one of the co founders of the company to make sure I had a seamless experience. I never got a call from other companies I had used in the past like Legal zoom and the whole thing always felt so automated. Yes, granted Legal zoom probably have way more clients than Lawtrades and as such would not be feasible for their management to call everyone, however, that was a nice touch which I do appreciate. I will definitely be heading back to Lawtrades whenever I require legal assistance.

Kris G.

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Ease of use, professionalism of staff, and the exceptionally fast service. My LLC was formed overnight! Outstanding. I highly recommend LawTrades and Bradley Rothschild, Esq.

Janet S.

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Quick and easy, I used LawTrades and worked with attorney Jonathan Hood to review a NDA. I got my questions answered right away. Arman was a great help making the connection. Would highly recommend the service.

Abrar K.

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We had Ryan for our parent attorney he was wonderful! Fast and efficient! Arman was also very helpful anytime we had a question we could call at anytime.

What people
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(100+ Positive Reviews)

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Reviews

Karen, K.

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My attorney, Roy Gross is highly responsive and very thorough.

Heinrich, T.

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Exceptionally good service.

Bruce C.

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Fast, seamless, elegant platform; a world-class attorney handled our case quickly, perfectly and affordably. Thanks Lawtrades!