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Romania declassifies all 1989 revolution documents
March 10, 2010, 4:47 am
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Documents in Viacom vs. Google unsealed soon
March 9, 2010, 12:15 pm
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iPad trainspotters divine e-book prices, My Documents and more from Oscar night commercial
March 8, 2010, 5:51 pm
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iPad trainspotters divine e-book prices, My Documents and more from Oscar night commercial originally appeared on Engadget on Mon, 08 Mar 2010 17:51:00 EST. Please see our terms for use of feeds.
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CSIS played critical role in Afghan prisoner interrogations: documents, sources
March 7, 2010, 12:50 pm
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US lawmakers seek more Toyota documents
March 5, 2010, 7:45 pm
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Activision/Infinity Ward court documents detail ex-studio heads' many, many complaints
March 5, 2010, 2:00 pm
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Gallery: Activision/Infinity Ward lawsuit documents
Activision/Infinity Ward court documents detail ex-studio heads' many, many complaints originally appeared on Joystiq on Fri, 05 Mar 2010 14:00:00 EST. Please see our terms for use of feeds.
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Feds ask Iacobucci to decide on release of Afghan detainee documents
March 5, 2010, 11:07 am
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Harper refuses to give up detainee documents, says lawyers dictate censorship
March 4, 2010, 3:10 pm
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Leaked Documents Show Microsoft's Secret Phone Lives (On Verizon) [Exclusive]
March 4, 2010, 9:40 am
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After the Windows Phone 7 launch passed without so much as a mention of Project Pink, Microsoft's other new phone project started to fade into memory. Today, we can confirm: Pink is coming, and Verizon's the carrier.
A tipster passed us a load of 3rd-party marketing materials, in which a promotional plan for Pink is laid out in detail. (Campaign specifics and most graphics have to be witheld to protect the innocent, but rest assured, they're legit.) The documents don't talk about specs or software details, or more importantly why the hell Microsoft thinks this weird little pebble is a good idea, but there's plenty we can learn:
• The early Pink renders leaked to us back in September? Those are exactly the same ones included in the proposal.
• Of the two phones in prior leaks, only one shows up here: The Turtle vertical slider. It's a messaging phone, basically—one part Pre, and two parts Sidekick. (Or maybe three.)
• Verizon is a launch partner for the device, and probably an exclusive carrier. The branding and marketing in the documents suggests a joint Microsoft/Verizon launch, but another carrier isn't completely out of the question.
• The phones aren't running Windows Phone 7, unless it's hidden behind a different interface. Virtually all rumors around the Pink platform implied as much, and again, this appears to be something fundamentally different.
• Social Networking! It's all over the proposal, and presumably, the phone.
• It's suggested that the platform has apps of some sort. For a phone like this to share apps with Windows Phone 7 is pretty much impossible—the minimum hardware requirement for a Windows Phone look out of reach for this little black lump—so this one's a big question mark. Is it another SDK? Or closed app development like we've seen on the Zune HD? Web apps?
Since the documents come from a party working with Microsoft, and not Microsoft itself, a few things are missing: there's no mention of a release name for the product (Pink is the codename we've been using, but the launch title could be different.); stil no sense at all as to how the interface works; and no announcement or launch date. The documents are just days old, and hint at a near-term launch, which would be inline with what we've been hearing about a second Microsoft phone launch at or around CTIA at the end of this month. And remember, this are marketing materials, designed to promote a launch, not just an announcement. In other words, Pink, or whatever the hell it is, will likely beat Windows Phone 7 to market. So that explains all those Tweets, I guess.
All these missing pieces add up to a massive gap, not just in the phone's feature sheet, but in our understanding of what it's supposed to be. If it's a replacement for the Sidekick, the obvious question is, is anyone asking for a replacement for the Sidekick? If it's just a Microsoft-branded feature phone, er, why? Doesn't the future of youth/budget phones all about scaled-back smartphones (see: Pixi, Backflip), and not glorified feature phones? [Thanks, Tipster!]
Series Seed Documents Legal Guru Ted Wang Speaks! (Plus Get Your Free Term Sheet Here)
March 4, 2010, 8:30 am
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BoomTown finally got to meet Silicon Valley lawyer Ted Wang today, which was kind of a thrill since most tight-lipped attorneys run in the other direction when they see me coming.
But Wang–who works for Fenwick & West and is popular legal advisor to a spate of digital start-ups, such as Facebook, Aardvark and Twitter–has a lot to talk about with the launch of a new Web site called Series Seed Documents earlier this week.
It’s a laudable effort at simplifying the complex–especially since most lawyers mostly like to complexify the simple.
Instead, Wang has made available for free templated but flexible legal documents for entrepreneurs to use for seed-stage deals, which is getting support of the top venture and angel investors in the arena, such as Andreessen Horowitz.
The point: So new companies don’t waste time and money negotiating often unnecessarily complicated–but usually standard–legal papers.
Wrote Wang in a blog post on the Series Seed site, titled “For the Faithful”:
Up until now, various smart people have talked or blogged about reducing the transaction costs associated with seed stage investment without rallying around a particular attack. Of course both entrepreneurs and investors would rather see their investment dollars used toward developing a new product and bringing it to market than toward what are usually routine transaction costs. The problem has been crafting a set of documents that provide adequate protections without being unduly burdensome. While traditional financing documents give broader rights and protections to investors, for a seed stage investment the benefits of simplification in the Series Seed documents outweigh the value of these additional rights and protections…
This endeavor will only be successful if the Documents gain widespread adoption–and that will require lawyers to get out of their comfort zones and think about the trade-offs suggested in the Documents. It will not be easy, but once a practitioner takes the plunge and makes the effort to think through the changes, I am convinced that a well thought-through standard set of seed documents will emerge. Moreover, if folks in our line of business do not come up with a set of documents that enable seed financings at a reasonable cost, the market is going to solve this problem in another way. To quote Gen Shinseki “[i]f you don’t like change, you are going to like irrelevance even less.”
Andreessen Horowitz, which was the first to agree to use Series Seed Documents, has been joined by a spate of high-profile angel and early-stage venture investors.
The group includes SV Angel’s Ron Conway, First Round Capital, “micro-cap” investor Mike Maples, SoftTechVC’s Jeff Clavier, True Ventures, Polaris Ventures, Charles River Ventures and Harrison Metal.
For a legal look-see, I embedded the four documents from Seed Series Documents below, which include: A Restated Certificate of Incorporation; an Investors’ Rights Agreement; a Series Seed Preferred Stock Purchase Agreement; and a Terms for Private Placement of Series Seed Preferred Stock of [Insert Company Name], Inc.
And here’s Wang talking about it the effort–which he has been blogging about since 2007, actually–at Fenwick’s Mountain View, Calif. offices, with an impressive range of legal tomes behind him:
[ See post to watch video ]
Inspector: US fishery officer shredded documents
March 3, 2010, 6:37 pm
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Toyota Secret Documents Disclosed
March 3, 2010, 2:10 am
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Series Seed Documents: Legal Templates for Early Investments
March 2, 2010, 6:00 pm
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Because today's startup generally requires significantly less seed capital to function, the legal contracts once required for large-scale deals are no longer appropriate. Rather than forcing startups to draft lengthy legal documents, one attorney is offering an invaluable resource to entrepreneurs. Best known as the Fenwick and West attorney responsible for Twitter, Ted Wang recently released a series of templates to help startup companies navigate the difficult task of investment financing.
The Series Seed documents are a set of guideline documents that allow startups raising less than $1.5 million dollars to lighten the burden of the legal process. Documents include a certificate of incorporation, a preferred stock purchase agreement, an investors' rights agreement and a seed term sheet.
Says Wang, "From an investor's perspective, while moving away from the traditional full-blown financing documents entails giving up a number of rights and protections, when taken across numerous transactions, the benefits of spending less time and money on the documents outweigh the cost of sacrificing these additional rights and protections. Moreover, I don't believe there's anything included (or excluded) in these documents that will be wildly controversial." Should there be any controversy, Wang plans on open sourcing the documents for discussion in the near future.
While entrepreneurs may use the documents at their own risk, some of the endorsers of the resource include Charles River Ventures, Ron Conway with SV Angel, First Round Capital and Polaris Ventures.
To download all four documents entrepreneurs can visit seriesseed.com. For additional resources on how to actually get to this portion of the investment process, early-stage companies should consult Venture Hacks' series entitled Term Sheet Hacks.
Discuss
Series Seed Documents–With an Assist From Andreessen Horowitz–To Help Entrepreneurs Wi
March 1, 2010, 12:03 pm
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Series Seed Documents, templated term sheets for entrepreneurs to use for seed-stage deals, will be launched today, part of an effort by Silicon Valley lawyer Ted Wang and pushed by venture capital firm Andreessen Horowitz.
The point: So new entrepreneurs don’t waste time and money negotiating often unnecessarily complex term sheets.
Series Seed Documents was planning its announcement tonight, after briefing reporters. But BoomTown was alerted to the move by a tweet last week from Fenwick & West lawyer Wang that read: “Excited about launching Series Seed documents next week.”
Oops!
The Twitter post has since been taken down (but here is an image of it, below, natch!).
“Who even knew that a corporate attorney would have a Twitter account?” joked Marc Andreessen of Andreessen Horowitz in an interview this morning.
Actually, Wang (pictured here) is Twitter’s lawyer!
His practice, which focuses on representation of “emerging companies,” as noted on his Fenwick & West Web site, also includes Aardvark, Billshrink, Clicker, Facebook, Flixster and Widgetbox.
Andreessen Horowitz, which was the first to agree to use Series Seed Documents, will be joined by a spate of high-profile angel and early-stage investors.
The group includes SV Angel’s Ron Conway, First Round Capital, “microcap” investor Mike Maples, SoftTechVC’s Jeff Clavier, True Ventures, Polaris Ventures, Charles River Ventures and Harrison Metal.
“We want to make the process as transparent as possible, which is to say, we want to take all the mystery out it,” said Andreessen. “And it is online for everyone to understand.”
Of course, noted Andreessen, the price for the round is still open to negotiation, but wrangling over typically standard terms often hurts deals.
“The big reason we are doing it is that we think for these early stage round, bashing over these terms does damage only brings mistrust,” he said.
Andreessen noted that this term-sheet template approach is only appropriate for small, early rounds of about $500,000 to $1 million.
“VCs who do angel rounds should be acting like a VC in a VC round and acting like an angel in an angel round,” he said. “The problems come when VCs act like VCs in angel rounds.”
Andreessen said using Series Seed Documents would cost start-ups about $7,000 compared with a low of $15,000 and up to $100,000 in many similar deals.
“It helps streamline the process and makes starting a company easier and more efficient,” said Conway of SV Angel, who is a well-known angel investor. “And cheaper–all in all, it is a benefit to both the entrepreneur and the investor.”
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