What is a Most Favored Nation (MFN) Clause?
3 mins
A clear definition of Most Favored Nation clauses, how they function in startup fundraising and sales, and the strategic risks founders must consider before signing.
Convertible Notes
What are Fully Diluted Shares?
3 mins
Fully diluted shares represent the total equity count if all convertibles exercised. This metric is crucial for understanding true ownership and negotiating investor term sheets.