--- title: "SAFE & Convertible Note Drafting | Founder + Investor | GTC" description: "Attorney-drafted post-money SAFEs and convertible notes. Valuation cap, discount, MFN, pro-rata. Founder-side or investor-side, flat fee quoted up front." lang: en json-ld: | [ { "@context": "https://schema.org", "@type": "Organization", "name": "Global Trademark Company LLC", "url": "https://globaltrademarkcompany.com", "logo": "https://globaltrademarkcompany.com/gtc-logo.svg", "description": "Multi-practice IP and business legal firm. Trademarks in 100+ jurisdictions, patents in 10 + PCT, copyrights under Berne. Operating since 2016.", "foundingDate": "2016", "sameAs": [ "https://www.linkedin.com/company/globaltrademarkcompany/", "https://www.trustpilot.com/review/globaltrademark.co" ], "contactPoint": [ { "@type": "ContactPoint", "telephone": "+1-510-973-4964", "contactType": "customer service", "areaServed": "US", "availableLanguage": [ "English" ] }, { "@type": "ContactPoint", "telephone": "+44-7453-347853", "contactType": "customer service", "areaServed": "GB", "availableLanguage": [ "English" ] }, { "@type": "ContactPoint", "telephone": "+91-6397-329955", "contactType": "customer service", "areaServed": "IN", "availableLanguage": [ "English", "Hindi" ] } ], "address": [ { "@type": "PostalAddress", "streetAddress": "712 H Street NE, Suite 2094", "addressLocality": "Washington", "addressRegion": "DC", "postalCode": "20002", "addressCountry": "US" }, { "@type": "PostalAddress", "streetAddress": "YSC Complex, 4th floor, A-400, 12 Ajit Singh House, Sri Aurobindo Marg", "addressLocality": "New Delhi", "addressRegion": "Delhi", "postalCode": "110016", "addressCountry": "IN" } ] }, { "@context": "https://schema.org", "@type": "Service", "name": "SAFE & Convertible Note Drafting", "serviceType": "SAFE & Convertible Note Drafting", "description": "Attorney-drafted post-money SAFEs and convertible notes. Valuation cap, discount, MFN, pro-rata. Founder-side or investor-side, flat fee quoted up front.", "provider": { "@type": "LegalService", "name": "Global Trademark Company", "url": "https://globaltrademarkcompany.com" }, "offers": { "@type": "Offer", "price": "350", "priceCurrency": "USD", "description": "Flat fee for a standard SAFE or note, quoted in writing before drafting begins. A round of several SAFEs or notes is scoped together. There are usually no government or filing fees on a SAFE or note." } }, { "@context": "https://schema.org", "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://globaltrademarkcompany.com/" }, { "@type": "ListItem", "position": 2, "name": "Incorporation & Startups", "item": "https://globaltrademarkcompany.com/services/incorporation" }, { "@type": "ListItem", "position": 3, "name": "SAFE & Convertible Note Drafting", "item": "https://globaltrademarkcompany.com/services/safe-convertible-notes" } ] }, { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [ { "@type": "Question", "name": "SAFE or convertible note, which one do I need?", "acceptedAnswer": { "@type": "Answer", "text": "Both let you raise before a valuation is set and convert to equity at the next priced round. A SAFE is simpler: no interest, no maturity date, no debt. A convertible note is a loan. It carries interest and a maturity date, so if no priced round happens before maturity, the note can come due. SAFEs dominate US pre-seed and seed; notes are common where an investor wants interest or a hard maturity, and in some markets outside the US. We map the right instrument on the terms call." } }, { "@type": "Question", "name": "Pre-money or post-money SAFE. Does it matter?", "acceptedAnswer": { "@type": "Answer", "text": "It matters a lot. The original 2013 pre-money SAFE calculates conversion against the pre-money cap, which hides the dilution each new SAFE adds. The 2018 post-money SAFE calculates against the post-money cap, so the dilution is visible and each investor's ownership is locked at signing. Post-money is now the YC and broader market standard, and we draft to it unless you have a specific reason not to." } }, { "@type": "Question", "name": "What do the valuation cap, discount, and MFN do?", "acceptedAnswer": { "@type": "Answer", "text": "The valuation cap sets the highest valuation at which the SAFE or note converts, protecting the early investor if the next round prices higher. The discount gives the investor a set percentage off the round price. Most instruments use whichever of the two gives the investor more shares, not both. MFN (most-favoured-nation) lets an investor adopt better terms you grant a later SAFE holder. We set each to the deal and explain the trade-offs before you sign." } }, { "@type": "Question", "name": "What happens to a note if no priced round happens before maturity?", "acceptedAnswer": { "@type": "Answer", "text": "That is the key difference from a SAFE. A convertible note has a maturity date, and if no qualified financing has converted it by then, the note can fall due as a debt. Repayable, or converted at a default mechanism the note specifies. A well-drafted note sets out exactly what happens at maturity. A SAFE has no maturity and no debt, so it simply waits for the next round. We draft the maturity mechanics carefully so a note does not become an unexpected liability." } }, { "@type": "Question", "name": "How does the flat fee work, and are there filing fees?", "acceptedAnswer": { "@type": "Answer", "text": "A standard SAFE or note is a flat fee, quoted in writing before any drafting begins. A round of several SAFEs or notes on the same terms is scoped together. There are usually no government or filing fees on a SAFE or note. Where any apply, they are passed through at cost. The quoted fee is the cost." } }, { "@type": "Question", "name": "Can you advise on the cap, or whether to take the money?", "acceptedAnswer": { "@type": "Answer", "text": "We draft the instrument and advise on the legal structure. What each term does and where the risk sits. The valuation cap, the discount, and whether to do the round are commercial decisions that stay yours. We do not give investment or tax advice; where a financing raises tax questions we coordinate a tax adviser. No fundraise outcome is guaranteed." } } ], "dateModified": "2026-08-28" } ] --- [![](/branding/logos/gtc-logo-stacked.svg)![](/branding/logos/gtc-logo-stacked-white.svg)](/) - Trademarks - Patents - Copyrights - Data Privacy - Business Legal - [Pricing](/pricing) - Resources - Company Sign inEN · USD Sign in 1. [Home](/) 2. › 3. [Incorporation & Startups](/services/incorporation) 4. › 5. SAFE / notes SAFEs + convertible notes · Founder + investor # Raise on a SAFE or note without surprises at the next round. A SAFE or convertible note lets you raise early money fast, before you have agreed a valuation. The instrument converts to equity at the next priced round. A GTC attorney drafts the terms that decide what you keep. Valuation cap, discount, MFN, pro-rata. Founder-side or investor-side. The numbers stay your call; we put them into an instrument that converts cleanly. $350 Flat fee, quoted up front · Founder-side or investor-side [Draft My SAFE or Note](/forms/catalog/incorporation-startups/safe-convertible-notes?ref=b2c) [Excellent ![](/branding/trustpilot/stars-4.5.svg)Trustpilot ](https://www.trustpilot.com/review/globaltrademark.co) ![Founder and attorney reviewing a post-money SAFE and cap table in a bright modern office](/img/home/hero-library/m-pricing-quote-handover-480.jpg) SAFE ready Post-money terms Cap-table clean Dilution modelled Close-ready Signed in days ![](/assets/zaman-VN2VfObh.webp) Legal team GTC's formation team Business counsel ![](/assets/zaman-VN2VfObh.webp) Legal team GTC's formation team Business counsel 10,924+ clients 11 attorneys 5 offices 10+ years IIPLA Top IP Consultancy 2026 [Upwork · Top Rated Plus ](https://www.upwork.com/freelancers/zamanzaidi) Trusted by founders and brands worldwide ![Atlys](/assets/atlys-B5BookJo.webp "Atlys")![Perfora](/assets/perfora-D4_346Y2.webp "Perfora")![Soxco](/assets/soxco-D31kWMAz.webp "Soxco")![BossCare](data:image/webp;base64,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"BossCare")![Innovist](/assets/innovist-BgYdG_yd.webp "Innovist")![Bacardi](/assets/bacardi-JU27gvk6.webp "Bacardi")![Footcare Lab](/assets/footcarelab-BLfB0WJu.webp "Footcare Lab")![Bare Anatomy](/assets/bare-anatomy-CBhgu9Ro.webp "Bare Anatomy")![Freedom](/assets/freedom-confectionery-HioHiGYc.webp "Freedom") How it works ## Three steps to a clean instrument. 1 ### Terms + dilution call Sixty minutes. Cap, discount, MFN, pro-rata, and, for a note. The interest rate, maturity, and qualified-financing threshold. We model how the SAFE or note converts at a plausible next round so you see the dilution before you sign. 2 ### Drafting + your review The SAFE or note is drafted to the agreed terms, founder-side or investor-side, on the current post-money market form. You review it before it goes to the investor, and if you are receiving a draft we mark it up against your priorities. 3 ### Signing + cap-table note One round of investor revisions is included. The signed instrument is stored in your corporate records and logged against the cap table, so the dilution it creates is visible the moment the next round prices. What it costs ## A flat fee, quoted up front. SAFE & Convertible Note Drafting is $350. A standard SAFE or convertible note is a flat fee, quoted in writing before any drafting begins, one attorney-drafted instrument, on the current post-money market form, with the conversion and dilution modelled first. There is no partner-hour billing and no quote after the fact. A round of several SAFEs or notes on the same terms is scoped together. There are usually no government or filing fees on a SAFE or note, so the quoted fee is the cost. What's included - Terms + dilution call: cap, discount, MFN, pro-rata, and conversion modelled - Post-money SAFE or convertible note drafted to current market terms - Valuation cap and discount set, with the converts-on-greater mechanics drafted - MFN (most-favoured-nation) and pro-rata rights drafted as appropriate - For a note: interest rate, maturity date, and qualified-financing threshold - Conversion and change-of-control mechanics for the next priced round - Founder-side or investor-side drafting, to protect your position either way - One round of revisions with the investor or their counsel Standard post-money SAFE (single investor) Flat fee, quoted up front Standard convertible note (single investor) Flat fee, quoted up front Round of several SAFEs or notes on the same terms Quoted by scope SAFE or note review (counterparty has the draft) Quoted by scope Government / filing fees on a SAFE or note Usually none; any passed through at cost We draft the instrument and advise on the legal structure. The valuation cap, the discount, and whether to do the round stay your decision. We do not give investment or tax advice, and no fundraise outcome is guaranteed. Get started ### Draft your SAFE or convertible note Tell us about the round. Instrument, cap, discount, and which side you are on, and a GTC attorney will scope the drafting and email a flat-fee quote. Have a term sheet or an investor's draft already? Share it and we can scope the SAFE or note faster. [Start Now](/forms/catalog?subcategory=safe-convertible-notes&ref=b2c) Why GTC ## Why founders draft the SAFE with GTC. ![](/assets/zaman-VN2VfObh.webp) Legal team GTC's formation team Business counsel Attorney-led ### Current post-money form We draft on the post-money SAFE that is now the market standard, not the 2013 pre-money version that hides SAFE-on-SAFE dilution. A note is drafted to current terms. Cap, discount, interest, maturity, and a qualified-financing trigger. ### Dilution modelled first We run the cap, the discount, and the option-pool top-up through a plausible next round before a word is drafted. You see the founder dilution the instrument creates, so the terms you sign reflect the ownership you want to keep. ### Founder-side or investor-side We draft from whichever side of the table you sit on. Sending to investors as the company, or sending to companies as the investor. The cap, discount, MFN, and pro-rata are set to protect your position either way. ### Converts without a fight An instrument drafted to a market form converts predictably when the priced round lands. Home-made or mismatched SAFEs are where conversion disputes and cap-table cleanups start. We draft the version a counterparty's counsel recognises. Your Customer Success Team ## A dedicated team that owns your matter from start to finish. Every GTC client gets a dedicated Account Manager and a Senior Account Manager who learn your business and stay with you from first email to final filing. They are named people who pick up the phone and already know your matter, so every step moves forward without delay. ### Your Account Manager Your day-to-day point of contact, who coordinates every matter, keeps things moving, and already knows your file. They have your full history, so you start every conversation where the last one left off. ### Your Senior Account Manager Senior oversight on strategy and escalations, stepping in as your needs grow, so every important detail stays on track. A named person, on email or a call, at every step. ![Your dedicated GTC Customer Success Team](/assets/m-onboarding-bright-welcome-C-heDolY.jpg) How we compare ## Weighing how to paper your SAFE or note? Here's what sets GTC apart. What you get GTC Online filing services Doing it yourself Attorney drafts the SAFE or note to current market terms Dilution and conversion modelled before you sign Cap, discount, MFN, and pro-rata each set to your deal DIY filing service: generic template, fixed terms DIY filing service: generic template, fixed terms Drafts from either side: founder-side or investor-side Flat fee quoted up front, not partner-hour billing Big law firm: billed by the hour Big law firm: billed by the hour Same team carries it into the next priced round Attorney drafts the SAFE or note to current market terms GTC Online filing services Doing it yourself Dilution and conversion modelled before you sign GTC Online filing services Doing it yourself Cap, discount, MFN, and pro-rata each set to your deal GTC Online filing services DIY filing service: generic template, fixed terms Doing it yourself DIY filing service: generic template, fixed terms Drafts from either side: founder-side or investor-side GTC Online filing services Doing it yourself Flat fee quoted up front, not partner-hour billing GTC Online filing services Big law firm: billed by the hour Doing it yourself Big law firm: billed by the hour Same team carries it into the next priced round GTC Online filing services Doing it yourself The timeline ## From terms call to a signed instrument. A SAFE or note is the fastest way to take early money. The hard part is the terms conversation; once those are settled, the drafting is quick. Here's the sequence and where you steer it. 1. Day 0 ### Terms + dilution call Sixty minutes. Cap, discount, MFN, pro-rata, and, for a note. Interest, maturity, and the qualified-financing threshold. We model the conversion so the terms are settled before drafting begins. 2. A few business days ### Drafting + your review The SAFE or note is drafted to the agreed terms on the current market form and reviewed with you. If you are receiving a draft, we mark it up against your priorities instead. 3. 1 round included ### Investor revisions One round of revisions with the investor or their counsel is included in the fee. Most SAFEs settle quickly; notes with bespoke interest or maturity terms take a little longer. 4. On signing ### Signed + logged to the cap table The signed instrument goes into your corporate records and is logged against the cap table, so the dilution it carries is visible the moment the next round prices. In their words ## All your legal, in one place. One accountable team across every practice, operating since 2016. [Excellent ![](/branding/trustpilot/stars-4.5.svg)Trustpilot ](https://www.trustpilot.com/review/globaltrademark.co) 10,924+ Clients served 11 In-house attorneys 5 Global offices 10+ Years since 2016 SAFEs + convertible notes ## Frequently asked questions SAFE or convertible note, which one do I need? Both let you raise before a valuation is set and convert to equity at the next priced round. A SAFE is simpler: no interest, no maturity date, no debt. A convertible note is a loan. It carries interest and a maturity date, so if no priced round happens before maturity, the note can come due. SAFEs dominate US pre-seed and seed; notes are common where an investor wants interest or a hard maturity, and in some markets outside the US. We map the right instrument on the terms call. Pre-money or post-money SAFE. Does it matter? What do the valuation cap, discount, and MFN do? What happens to a note if no priced round happens before maturity? How does the flat fee work, and are there filing fees? Can you advise on the cap, or whether to take the money? [Draft My SAFE or Note](/forms/catalog/incorporation-startups/safe-convertible-notes?ref=b2c) Around the round ## Before and after the SAFE. A SAFE or note sits between forming the company and the documents that close the next round. These are the engagements that bracket it. [ ### Founder agreements Before you raise, settle who owns what. Vesting, IP assignment, and the founder split that a SAFE then dilutes. See founder agreements ](/services/founder-agreements)[ ### Fundraising documentation When the round prices, the SAFE converts into a priced-round package. SPA, Investors' Rights, and Voting Agreement. See fundraising docs ](/services/fundraising-documentation)[ ### Incorporation A SAFE needs a company to issue it. Form the US, India, or UAE entity that the instrument converts into. See incorporation ](/services/incorporation) Draft the SAFE or note. ## Ready when you are. A free terms call. We'll talk through the round, model how the instrument converts at your next priced round, and confirm the flat fee before any drafting begins, so the SAFE or note you sign reflects the ownership you want to keep. 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