VentureDocs Brings Legal Doc Preparation Online
28th February 2012 · 0 Comments
Fort Worth-based company makes it easier and more affordable to generate customized legal documents
VentureDocs automates the process of drafting legal documents for the venture capital industry. The online service uses an intuitive point-and-click menu system to help customers customize their own documents instead of paying attorneys to prepare each document by hand. While some companies are reluctant to try the new method, says founder Bo Sartain, “there will be a tipping point where automation becomes the new norm, and VentureDocs will be right in the middle of it.”
VentureDocs did not rely on outside investment in getting itself going. “It was very important to us that we could fund the company’s first steps ourselves,” explains Sartain, who adds that having operational prototypes by May 2011, months before launch, helped immensely in bootstrapping efforts. “We got three customers through our prototypes before we even launched the website.” Shortly after the official launch of the service in October 2011, VentureDocs landed its first enterprise customer, TECH Fort Worth, which purchased the service for use in all of its incubation and acceleration companies.
Of course even a totally bootstrapped company relies on a wide range of informational and networking resources, and VentureDocs is no exception. Sartain says that the company has benefited from more resources than he can name, but lists TECH Fort Worth, TECH Wildcatters, the North Texas RCIC and TeXchange among the North Texas organizations that have proven helpful.
Sartain advises other entrepreneurs to make sure they have the right team to facilitate a quick launch. “Many entrepreneurs have great ideas but lack a technical founding team capable of building a prototype. In today’s environment founders must have more than just a concept – they need paying customers.”