Structuring Promissory Convertible Notes for Early Software Development Hours
A labor-backed convertible note transforms uncompensated development hours into senior corporate debt that converts into preferred equity at a valuation cap.
A labor-backed convertible note transforms uncompensated development hours into senior corporate debt that converts into preferred equity at a valuation cap.
The terms are written where they belong. Each field holds three desks, and every entry a desk writes raises the terms it uses, each term given a meaning, a mechanism and the places it appears. The record on these pages stays first person and hand made; the fields grow the nomenclature.