Initially released in 2010, the Series Seed documents are a standardized set of documents that can be quickly deployed for a seed investment. They have been used by several startups for investments from many Silicon Valley’s venture capital firms.
Version 3.0 of the Series Seed documents is being released on the leading open source forum, GitHub, to encourage continued collaboration. It provides a standard set of rights, privileges and preferences with “fill in the blank” variables. This helps entrepreneurs avoid spending time and money negotiating over standard transaction terms and more clearly highlights the key variables in these seed transactions.
The documents are accompanied by a blog post “for law nerds and real nerds” describing the changes to the current versions and how to use them on GitHub.