Back-Up Certificate
A back-up certificate is a certificate (i.e., document) a startup will issue to its legal counsel whereby the President or CEO of the startup certifies as to various facts that legal counsel will need in order to properly issue an opinion letter as part of a venture capital financing transaction.
A back-up certificate is not a document that is part of the deal documents of a venture capital financing and usually stays internal between the startup and its legal counsel.
About the Author
Ryan Roberts is a startup lawyer and represents technology companies through all phases of the startup process, including incorporation, seed & venture financings, and exit transactions. Click here to learn more about his practice.
