What is StartupDocs?

I, Erik Byrenius, took this initiative to help entrepreneurs focus on running their businesses, instead of spending time and money on unnecessary legal paperwork and negotiations. My legal partner Mattias Larsson has been along from the very beginning.

As an angel investor, I see many term sheets. Quite often, they are written with primarily the interests of the investors or the founders in mind. This is not the best starting point for a successful relationship! Why not start negotiations based on a fair and balanced term sheet instead? I’m convinced that this approach long-term will benefit both the company and all shareholders.

In addition to the investment documents (term sheet, subscription agreement and shareholders’ agreement), I have also created a founders’ agreement, employment agreements, non-disclosure agreements, a guide to stock options in Swedish startups and a guide and template for unit economics.

It’s all free – this is my way of giving back to the startup community. You are free to use, modify and share the documents, but you may not commercially exploit them.


  • Term Sheet

    Balanced and standardized, for seed round. Both VC firms, angel investors, entrepreneurs and lawyers have been involved in the process. Use this term sheet as the starting point for negotiations in your seed round.

  • Subscription and Shareholders’ Agreement

    Based on the term sheet. Everything you need for your seed round.

  • Founders’ Agreement

    Similar to the shareholders’ agreement, but adapted to a company without any investors, i.e. an agreement only between the founders.

  • The Ultimate Guide to Stock Options

    The ultimate guide to stock options in Swedish startups. Tailored for the new law from January 2018 regarding qualified employee stock options (“QESO”). Also includes the only document you need.

  • Warrant Guide

    If your startup doesn’t qualify for the tax law you can use classic warrants to set up an incentive scheme instead. This guide helps you and provides you the documents you need to get started.

  • Unit Economics

    A beginner’s guide to understanding customer value and costs: CLTV, CAC and cohorts. Includes a unit economics spreadsheet template.

  • Employment Agreement

    Standardized employment agreements for permanent and probationary employments, as well as for temporary employments with hourly wage and for managing directors.

  • Non-Disclosure Agreement

    NDAs may come in handy when discussing patent applications, partnerships, joint ventures, mergers, acquisitions etc.

Latest News

The Ultimate Guide to Stock Options in Swedish Startups

Since January 2018 there are new and more beneficial tax regulations for Swedish startups giving qualified employee stock options (“QESO”, Swedish: kvalificerade personaloptioner) to employees. This is a guide to the new law and how you can create stock options meeting the criteria for lower taxes.

First, a summary will give you an overview of the new law and the whole process. Next, different kinds of employee incentive programs will be discussed, followed by a deep-dive into the criteria for lower taxes and how to set up an option pool. We’ll then discuss vesting before finally walking through a step-by-step process: how to implement a stock options program.


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Many people have helped me making this initiative a reality. Thanks to everyone who has engaged in discussions and provided me with insights regarding what terms are normal in Swedish seed rounds and stock option programs.

There are a few people who have put some extra effort into this:

  • First and foremost, huge thanks to my legal partner Mattias Larsson for making this possible. If you have any legal questions about the documents, or need help with other legal topics, don’t hesitate to contact him.
  • I also very much appreciate the invaluable support from Magnus Sandberg who has provided a lot of help with the legal documents and many interesting discussions.
  • Johan Crona at ALMI Invest has been great at giving feedback relating to all the legal documents.
  • Without Isak Utegård, this website would look like it was born in the ’90s. Thanks for helping me out with the web design and the implementation of it!
  • Thanks to Jacqueline Sibert who designed the logotype. She also helps startups with web and app design.