What is Mentor Shares?
Mentor Shares is a tool for Start-ups and Mentors to formalize their relationship.
Specifically, Mentor Shares is a way for Start-ups to give a share of the company (in the form of options) to Mentors in exchange for advice, help with business or technical tasks and other contributions to the Startup.
You can click the button below to create a Mentor Shares agreement through a Mentor Shares template. You should always consult a professional before entering into a legal agreement.
We're all about easy, so you can also just download the US f6s Mentor Shares agreement or UK f6s Mentor Shares agreement without registering and check it out yourself.
Should I use Mentor Shares?
If any of the descriptions below sound like you, the answer is probably yes:
- Start-ups that haven't taken large amounts of external money
- Start-ups that are registered in the United States or United Kingdom as a legal entity. We're working on more countries - let us know where you're from if you want local Mentor Shares.
- Start-ups and Mentors that already have a mentoring relationship and want to formalize that relationship beyond casual advice
- Start-ups and Mentors that want to give a Mentor shares in the Start-up in exchange for the Mentor doing a task or project
Here are some cases where Mentor Shares aren't a good option:
- Start-ups whose shares are worth a lot. For example, the start-up may be profitable or have lots of assets
- Start-ups that are in programs with the policy to push mentor/startup formal relationships to the end of the program
- Start-ups that have taken a considerable amount of money from external investors
- Start-ups incorporated outside a place we've provided a template. We're working on more countries - let us know where you're from if you want local Mentor Shares!