Here’s a LinkedIn question about LLC operating agreements. The poster wonders whether the operating agreement he received from the entity formation company is a little “generic” and asks the forum for specific advice about what should be included. The answers point to some provisions that should be included (division of gains and losses, breakup/buyout/dissolution schemes,…
Read MoreThis post on the use of the term immediately, one of many similar explorations by Ken Adams, is the sort of thing that attracts me to contract drafting. There is a lot to be said for using the right language to convey an idea: language that is clear, concise, hard to misconstrue, and simple without…
Read MoreWriting about Ted Wang’s “simple series A” reminded me of this idea I came up with years ago. One alternative to drafting that I’ve always liked: “check the box” forms.” During any moderately stable period in Silicon Valley, certain terms become “market,” meaning that there’s little real dispute about them in substance and only some…
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