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Unless you and Y Combinator agree otherwise, all arbitration proceedings will be conducted in a location reasonably convenient to both parties, with due regard to their ability to travel and other relevant circumstances. If the parties cannot agree on a location, the determination will be made by AAA. If your claim is for $10,000 or less, Y Combinator agrees that you may choose whether the arbitration will be conducted solely on the basis of the documents submitted to the arbitrator, through a telephone hearing, or an in-person hearing in accordance with the AAA rules. If your claim exceeds $10,000, the right to a hearing is determined by the AAA rules. Regardless of how the arbitration is conducted, the arbitrator shall issue a reasoned written decision sufficient to explain the significant findings and conclusions on which the award is based. It may be surprising to see everything covered on one page.1 This hasn`t always been the case, but it`s become common over the past decade as some investors have decided to make their condition sheets more user-friendly by shortening legal language, as if to say, “We`re not going to get bogged down in details. We will do it simply, friendly, standard and fast. Matias Vukusic [00:02:52] Yes, I am a lawyer here in Chile. I deal with start-ups and the venture capital industry and secure agreement or what is usually referred to as a secure agreement. The different versions of it are probably one of the most commonly used investment documents for early-stage startups.

User Content Transmitted Through the Site: With respect to Content or other materials that you upload through the Site or share with other users or recipients (collectively, “User Content”), you represent and warrant that you own all right, title and interest in and to such User Content, including, but without limitation, all copyrights and rights of publicity contained therein. By uploading User Content, you hereby grant and grant to Y Combinator and its affiliates a non-exclusive, worldwide, royalty-free, fully paid-up, transferable, sublicensable, perpetual, irrevocable license to copy, display, download, perform, distribute, store, modify and otherwise use your User Content for any purpose related to Y Combinator in any form, support or technology that is currently available. is known or will be developed in the future. However, please read the www.ycombinator.com/apply/privacy App Privacy Policy for more information on how we handle information contained in requests submitted to us. Matias Vukusic [00:03:48] Yes, it is the same that has been translated into several languages and applies to different jurisdictions. There is even on a credit site that you can even find ice caps, what the Indians say, we use it for companies based in India, for the startup base in India. Even in Chile, there is the Academy, an organization founded by local venture capital firms, and they have their own version of the secure agreement in Spanish. But the problem is that they usually don`t respect what the safe is, and they mostly use the name, they say. I mean, guys, you Americans are good at acronyms. You have the safe as you have the keys. Like, keep security simple.

You let the boss pretend you`re fine and that you`re great. How you like it when this marketing looks like documents, right? And this is where the demolition usually begins. For example, if you like something, a document called a safe, but then you start checking it, and it`s not that secure. I mean, for example, as with some lawyers, investors tend to design convertible bonds, and they give them the name, let`s say, you know, because it sounds chic and tradable. But they are very different from the Y Combinator, like when I prepared this, because I only did my job for example, I did this and I came across a document that is actually called simpler to know the future equity of the company. But it had nothing to do with Y Combinator. Things like, these certainly massive Estonian companies had a maturity date and say they`re not debt instruments, so the big ones don`t happen until today. So it`s one thing for us, as international lawyers, that when we search Law Insiders, we can find documents called Say It or Like Tableau. That`s something, but that`s not what they`re saying. But fortunately, there are also a lot of good documents, and there are states that are really websites and not just marketing words for you, your family, friends, and fundraising at an early stage. This is the case. I shouldn`t say falls.

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Clerky develops software to facilitate legal paperwork for startups and their lawyers. From incorporation to fundraising to hiring – everything a startup needs. Thousands of leading startups use Clerky to manage legal filings securely and efficiently. Matias Vukusic [00:24:45] So I contacted Law Insider and offered to be a Spanish version of Mike Whelan just to do the contract in Spanish. So to everybody, to any Spanish-speaking lawyer who wants to come here and tear up some contracts and refuse translations of contracts or something like that, I`m going to try to be the best host and compete for these document rants.

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