I often wish we could do business on a handshake.
I've been thinking about it more and more these days. We negotiate a sophisticated set of documents when we invest in a company and for the most part, those documents never come into play. Many times when things go badly, we rip up the documents and decide what to do based on an honest discussion among the interested parties. When things go well, all we need are the stock certificates.
I am not suggesting USV is going to start doing deals on a handshake. We have investors and we have a responsibility to them to act responsibly.
To read the original article: A VC: Doing Business On A Handshake
