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Term Sheet Review — SAFE vs convertible note comparison

Started by anon_renter_NC · Sep 19, 2024 · 1,031 views · 5 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
AR
anon_renter_NC OP

I'm dealing with a situation and need some guidance.

SAFE vs convertible note comparison. I've been dealing with this for about 6 months now and the situation isn't improving.

I have already consulted briefly with a lawyer but the other party is not cooperating.

Am I overthinking this or is this a real legal issue worth pursuing?

TL
Mod_TermsLaw Moderator

Licensed attorney — a few thoughts. Here's my take on the legal issues.

This is a common situation and the law is fairly clear. Under the relevant statute, actionable.

You should consult with a local attorney who handles these cases. Many offer free initial consultations.

FE
frustrated_employee_legal

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

NH
newbie_homeowner_OH

Following this thread — I'm in a very similar situation. Would love to hear how it turns out.

FD
frustrated_driver_legal

I work in this industry and unfortunately this is very common. The good news is that when people actually push back with legal representation, companies usually settle.

PB
PatentAgent_Boston

Been there. Here's what I learned.

What worked for me was having everything documented. It took 3-6 months but was worth it.

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