MikeA legal AI workspace for startup and venture capital lawyers
Startup and venture firms use Mike to compare term sheets and financing documents against their own forms, pull key terms from stacks of founder and investor paperwork, and draft revisions with tracked changes. Every answer cites the section it relied on, so counsel can confirm it quickly.
Updated
Attorney: Compare the Lakeshore Partners term sheet to our standard form and list every deviation. Then redline the liquidation preference language.
Mike: The Lakeshore term sheet differs from our form in three places. It asks for a participating liquidation preference with no cap [1], a board of five with two investor seats [2], and a full ratchet in place of broad-based weighted average [3]. I redlined the liquidation preference paragraph to a capped, non-participating structure for your review.
- [1] Lakeshore term sheet, § 4, p. 2
- [2] Lakeshore term sheet, § 7, p. 3
- [3] Lakeshore term sheet, § 5, p. 2
Mike created Brightwater liquidation preference redline.docx.
Example matter. Names and documents are fictional.
Venture work is repetitive but unforgiving. The same financing documents recur across dozens of companies, each with a few negotiated differences that matter. Mike reads the new draft next to your standard form, lists what moved, and points to the clause, so attention goes to the changes and not to the boilerplate.
Cuanto Labs installs Mike privately for your firm, connects it to the folders where your company files live, and loads your own forms and checklists. Founder and investor paperwork stays inside your firm's own installation.
What Mike does for your practice
- Term sheet comparison
- Upload an investor's term sheet and your firm's preferred form, and Mike lists the differences in valuation mechanics, liquidation preference, board composition, protective provisions and anti-dilution, with the section behind each one. You see what the investor changed before you read a word of the full text.
- Financing document markup
- Ask Mike to conform a draft stock purchase agreement or investor rights agreement to the term sheet, and it returns a Word document with the edits as tracked changes. The attorney accepts or rejects each one, and nothing is final until a person has read it.
- Diligence tables
- Point Tabular Review at a data room folder and Mike pulls the same fields from every document, such as party, effective date, assignment restrictions and change of control language, into a sortable table with a link back to each source page.
- Founder and employee equity review
- Mike reads founder stock purchase agreements, vesting schedules, option grants and board consents, and lists which grants have acceleration terms, repurchase rights or missing approvals, so cleanup items are found before the financing closes.
- SAFE and convertible note tracking
- Upload the outstanding notes and SAFEs for a company and Mike builds a table of holders, amounts, caps, discounts, maturity dates and side letter terms, so the conversion analysis starts from what the documents actually say.
- Formation and early-stage research
- Mike searches published case law on questions that come up for young companies, such as director duties in a down round or the enforceability of a drag-along, and reads the opinions before summarizing them. Each case it cites is checked against CourtListener first.
- Closing checklists
- Mike reads the signed documents against your closing checklist and shows what is executed, what is missing and what carries a condition, so the closing set is assembled from the record and not from memory.
How we set it up for your firm
- Your company files, connected
- We connect Mike to the drive or document system where your client company folders live, so attorneys ask about a company without uploading its documents again.
- Your forms and precedents
- We load your standard term sheet, financing documents, SAFE and advisor forms, so comparisons run against your forms and drafts come back in your house style.
- Diligence review templates
- We build Tabular Review templates for the fields your team always collects in diligence, one for contracts, one for equity grants and one for corporate records.
- Term sheet positions: firm or flexible
- We mark which positions in your form you hold and which you routinely trade, so a comparison separates a departure you will resist from one you usually concede.
- Closing checklists by round type
- We load your closing checklist for a priced round and another for a note or SAFE round, so each deal is read against the right list of signatures, consents and certificates.
Questions attorneys ask
Can Mike compare a term sheet against our standard form?
Yes. Load your form once and Mike compares each incoming term sheet or draft against it, listing differences by topic with the section and page for each. It reads the text of both documents, so a term phrased in an unusual way is still found. An attorney should read the flagged sections and decide which changes matter for the client.
How does Mike handle a data room with hundreds of files?
Tabular Review reads each file in a folder and fills the same columns for every one, such as counterparty, date, term and assignment language. The result is a sortable table, and each cell links to the page it came from. Pages Mike cannot read are marked as such, so they can be sent to a person.
Will Mike tell us what a market term is?
Mike works from the documents you give it and the research sources your firm connects. It can show how your own prior deals handled a point if those deals are in your folders. It does not have a view of the market on its own, and deciding what to accept for a client remains the attorney's judgment.
Can Mike reconcile a cap table against the stock documents?
Mike reads the charter, stock purchase agreements, option grants and board consents and lists the issuances each document supports, then flags grants with no matching approval in the file. You can compare that list with the company's cap table, which Mike can read if you load it. It does not own the cap table or calculate ownership, so the model stays in the tool your team trusts.
Can Mike draft the financing documents themselves?
It can draft sections or whole documents in Word from your forms and the agreed term sheet, with edits shown as tracked changes against a prior draft. Most firms use it to conform documents to the deal terms and to prepare first turns. An attorney reviews and finalizes every document before it goes to the other side.
Does Mike treat each SAFE as its own document?
Yes. Tabular Review fills the same columns for every SAFE and note, including cap, discount, most favored nation language and any side letter, so differences between holders show up in one table. Where a side letter modifies the main instrument, the row cites both pages. The conversion analysis is done by the attorney or the company's model, and Mike supplies the terms as written.
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Bring Mike to your firm.
Book a 30-minute call. Tell us about your practice and the systems your documents live in, and we'll come back with a setup plan for your firm.
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