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so when companies move to their first financing theres typical theres a typical set of documents that that are put together to close the financing the first is called the share purchase agreement or the subscription agreement sometimes and thats the document under which the buyer of the shares acquires the shares that document it can be as short as a page or as long as 50 or 60 pages depending on the size of the investment and the level of sophistication of the investor typically for seed investments friends and family rounds and the subscriptions by the initial founders were talking about a very short agreement which basically confirms that the buyers of the shares are qualified to buy them under securities laws depending on your stage of development that can mean you know people who are friends and family or somehow related to people on the board or it can be close friends and business associates or accredited investors as defined under securities laws those are people who have a
