Standard Documents and changes in the Commercial Code
EstBAN has been working in cooperation with Hedman Partners and SmartCap to develop standard documents. In addition, a number of changes in the Commercial Code will give new opportunities from July 1.
EstBAN, Hedman Partners and SmartCap have developed standard term sheets for both equity and convertible loan. The standard documents would enable to make early stage deals faster. The term sheets are publicly available here. Further standard documents (i.e shareholders agreement etc) will be added to the webpage once developed.
Also, Antti Perli from SmartCap introduced the changes in the Commercial Code as well as their effect on conditions of investment deals March 5 in a public discussion at Estonian Development Fond. The Commercial Code gives new opportunities by providing shares in different class and making the Estonian law more similar to international best practice. Antti Perli's presentation with explanations is available here. As well as Villy Lopman's talk on taxation concerning the option pool of early stage companies (only in Estonian) is available there.