Technology law firm Simmonds Stewart says it has launched a suite of fixed price offers for New Zealand startups.
It says the legal work covered by the offers includes drafting investment term sheets, preparing convertible note agreements, creating employee share option scheme documents, and completing investment documentation for a startup’s first equity financing transaction.
Simmonds Stewart's pricing page sets out the details of each offer.
"The fixed price of $10,000 plus GST for drafting, negotiating and completing investment documentation for first equity financing transactions, up to and including Series A, is expected to be particularly attractive to startups," it says.
There’s not a lot of information in the market for NZ startup founders on what they should pay for their legal costs. Since we know that startups are cash constrained, we want to give clarity on what they can expect," CEO Victoria Stewart says.
"With this new model, we’re moving away from the six-minute billable unit to fixed pricing that founders can budget for and rely on."