A new document builder, allowing entrepreneurs and the start-up community to create term-sheets for seed investments, has today gone live.
Taylor Wessing launches UK's first legal document builder for tech start-ups
The document builder, which has been created by Taylor Wessing, the international law firm known for its expertise at both ends of the technology market, will save time and money for entrepreneurs and small businesses looking to raise capital. It can be accessed via Tech Focus, the firm's microsite for the early stage tech community.
Term sheets are non-binding documents which set out the essential terms and conditions under which an investment will be made.
Simon Walker, partner at Taylor Wessing, said: "This development will enable entrepreneurs to save time and money when looking to raise capital, and will also provide guidance as to the terms typically seen in seed funding rounds. Three years ago, we made freely available a suite of seed investment documents - the provision of a document builder for term sheets is a natural extension of that facility."
Nick Hungerford, founder and CEO of Nutmeg, the UK's first online investment management company, said: "A resource such as this would have been a great help to us in our earlier days, saving time and allowing the team to concentrate on running the business. For many entrepreneurs looking to raise capital it can be hard to know where to start, unless you happen to have the right contacts in the right places. This document builder will give entrepreneurs the help they need and will no doubt be an invaluable tool for a great number of young companies."
In January Taylor Wessing launched the Tech Focus 100 – a peer-to-peer members' community aimed at connecting UK technology companies and entrepreneurs directly with investors and corporates from around the globe. This came three years after the firm launched its dedicated Shoreditch office, making it the first professional services firm to move into Tech City.
Lawyers in Taylor Wessing's Cambridge office specialise in Corporate (particularly Venture Capital matters) and Technology/ Intellectual Property services.