In perhaps what is Richard Susskind's legal world of the future, now a reality, the Wall Street Journal reports in Wilson’s Little Gift to the World about an on-line do-it-yourself Venture Financing Term Sheet being offered by a US law firm, Wilson Sonsini Goodrich & Rosati.
Having worked my way through the pages of on-line options, and admitting that I have no background in venture financing or the like, I come to the conclusion that it is probably a smart marketing tool to make any smart do-it-yourself-er realise that it probably would be wise (and easier than reading all the disclaimers, options and explanations that accompany each question) to just engage Wilson Sonsini Goodrich & Rosati.
But it is an interesting concept and certainly highlights the possibilities. In the end, if you work through the 45 web pages of questions, you generate a thirteen page document. Quite impressive!
There are many far simpler areas where such interactive document generation could be used. Increasingly firms are using on-line questionaires to take initial instructions from clients, more frequently in areas such as family law, wills and estates, conveyancing, trademarks, incorporation and personal injury. The Australian site Lawlive, has hundreds of documents available for purchase on-line and download, but again with a disclaimer about legality.
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