(b) that the time required to prepare the final agreements has passed net (in order to reduce the net legal costs borne by clients); and the Singapore Academy of Law and the Singapore Venture Capital – Private Equity Association launched the Venture Capital Investment Agreements (VIMA) in October 2018. VIMA proposes a series of usage models in seed cycles and start-up financing, aimed at reducing transaction costs and reducing friction during the negotiation process. The VIMA document collection is available for free download www.singaporelawwatch.sg and includes: VimA`s shareholder contract does not contain an equivalent clause containing the BPEVCA subscription and shareholder contract model. Investors may consider including a similar clause in their shareholder contract. Investors could have invested in the company because the founder creates a “discovery, invention, secret process or improvement.” Such inventions should be hijacked in the company, as they could be valuable to the start-up. BPEVCA`s subscription and shareholder contract model also includes a clause that stipulates that the founder, if he ceases to be a shareholder or consultant, must transfer the patent to the company. Investors might consider including a similar clause in their shareholder contract, as these patents would most likely be a benefit to the company. The objective of the standard agreements is to reduce the need for companies to spend time and money preparing and negotiating venture capital investments, particularly in the initial phase of financing. The documents were developed by a committee of leading lawyers, investors and financiers. This confidentiality agreement assumes that a company provides a potential investor with confidential information about itself.

It should be noted that it is not uncommon for VCs to refuse to enter into confidentiality agreements. Q. Does this model agreement mean that VCs and start-ups can now enter into financing agreements without taking over the services of a lawyer? “This initiative complements national efforts to promote the growth and vitality of Singapore`s venture capital ecosystem; and we also expect VIMA to play a key role in the adoption of Singapore`s early-period financing law, as all model agreements provide by default that they are subject to Singapore law and that all disputes arising from them are settled in Singapore. ” – The President, Judge Sundaresh Menon, at the introduction of VIMA in October 2018 (a) VIMA documents are complete in their coverage of the main legal terms generally found in final agreements on early-period financing transactions. This allowed the parties to enter into negotiations with a common understanding of the overall structure of final agreements and to focus their efforts on negotiating specific legal and trade conditions; [1] National Venture Capital Association, “Model Legal Documents” (called April 8, 2019).