New push for standard finance docs

As always, Brad Feld is contributing his efforts to a worthy endeavor, this time standardized seed financing documents:

Many smart and capable people have either worked on these various docs on signed on as supporters.  However, until there is one standardized set of documents that everyone – especially the various law firms agree on – I don’t expect there to really be a standardized set of seed financing documents.  I wrote about this in my post The Challenge of The Ideal First Round Term Sheet.

The post concludes with a call for lawyers, VCs, and angels to contact Brad and support standardization.  Some of this may sound a little arcane to those not familiar with the intricacies of startup financing, but imagine if every bank had a different format for checks–that’s how important an issue this is.  It’s a difficult hurdle for startups, one that is unnecessary and creates no value of any sort.  It’s time to get this done.