Model Documents

Startup Estonia and Estonian Private Equity and Venture Capital Association (EstVCA) promote industry-standard legal documents in Estonia so startups and investors can focus on company and deal-specific matters. These documents are made freely available in the hope that they will help to educate the Estonian start-up community, speed up foundation, team-building and early stage investment process, and lower the legal costs.

These versions of the documents were published in August 2020. Previous versions published in June 2017. 

These documents should be seen as a starting point only and should be tailored to meet specific circumstances because no two companies or investments are the same.

The documents have been drafted by Estonian law firms Ellex Raidla, Cobalt, Eversheds Sutherland, Hedman Partners, TGS Baltic, Sorainen, Fort Legal, Triniti and Njord.

General comments and questions on the documents may be sent to Antti Perli who led the working group preparing the documents.

Neither Startup Estonia, EstVCA nor any law firm or attorney participating in the preparation of these documents takes any responsibility for the content of the documents or the consequences of using them and none of the documents should be construed as legal advice for any particular facts or circumstances.

IT IS ESSENTIAL THAT LEGAL ADVICE IS SOUGHT BEFORE USING THE DOCUMENTS.

By downloading or accessing any document, you agree that the document you download or access may only be used by you for your personal or business use and may not be sold, redistributed or republished (including on another website) without the express written consent of Startup Estonia.

The documents include a number of footnotes explaining some of the legal concepts and business terms as well as alternatives that can be used.

PLEASE REMOVE ALL FOOTNOTES BEFORE SIGNING.