“
Change of Control
” can be defined differently in different contracts. We have crowd-sourced different ways of defining the same term, so that you can find and choose the right definition for your needs.
Below are all the legal and contractual definitions for the term “
Change of Control
" found within legal contracts contributed to The Genie Community.
All those below are used by lawyers, in-house legal counsel, startups and business owners alike.
Note: These definitions may differ between geographies, company size and contract category.
(i) a transaction or series of related transactions in which any "person" or "group" (within the meaning of Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), becomes the "beneficial owner" (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended), directly or indirectly, of more than 50% of the outstanding voting securities of the Company having the right to vote for the election of members of the Company's board of directors, (ii) any reorganization, merger or consolidation of the Company, other than a transaction or series of related transactions in which the holders of the voting securities of the Company outstanding immediately prior to such transaction or series of related transactions retain, immediately after such transaction or series of related transactions, at least a majority of the total voting power represented by the outstanding voting securities of the Company or such other surviving or resulting entity or (iii) a sale, lease or other disposition of all or substantially all of the assets of the Company.
This postmoney SAFE (Simple Agreement for Future Equity) can be used by startups as a tool for early-stage fundraising. YC's SAFE allows for high resolution fundraising and can reduced legal fees for both startups and investors by reducing the amount of time spent on the negotiation of terms. This is an uncapped SAFE with a discount rate.
This postmoney SAFE (Simple Agreement for Future Equity) can be used by startups as a tool for early-stage fundraising. YC's SAFE allows for high resolution fundraising and can reduced legal fees for both startups and investors by reducing the amount of time spent on the negotiation of terms. This is a SAFE with a valuation cap and a discount rate.
This postmoney SAFE (Simple Agreement for Future Equity) can be used by startups as a tool for early-stage fundraising. YC's SAFE allows for high resolution fundraising and can reduce legal fees for both startups and investors by reducing the amount of time spent on the negotiation of terms. This is a SAFE with a valuation cap only.
This postmoney SAFE (Simple Agreement for Future Equity) can be used by startups as a tool for early-stage fundraising. YC's SAFE allows for high resolution fundraising and can reduced legal fees for both startups and investors by reducing the amount of time spent on the negotiation of terms. This is an uncapped SAFE with an MFN (Most Favored Nation) provision.
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