The term sheet says the valuation and the amount. Founders sign it feeling the hard part is done. The subscription and shareholders documents that follow are where the investor's actual rights appear.
Liquidation preference that changes who gets paid and in what order. Anti-dilution that reprices your shares if the next round is lower. Reserved matters that mean you cannot hire, borrow or sign a lease without consent. Drag rights that can force you to sell.
None of it is unreasonable in itself. All of it is negotiable at term sheet stage and almost none of it afterwards.
Investment and Subscription Agreement
Documentation for an equity raise — the subscription agreement setting out what is being issued and on what conditions, the warranties the company and founders give, and the shareholders agreement governing control, information rights, transfer restrictions and exit.
Your Vision, Backed by the Right Legal Support
You build the business. We help you protect it.
Imagine closing a round knowing exactly what you have given away and what you have kept. Reserved matters that fit how you run the company. Founder protections intact. A cap table that still works for the round after this one.
Who this service is for
This Is For You If…
Companies raising an equity round from investors
Founders reviewing an investor's proposed documentation
Investors subscribing for shares in a private company
Companies issuing preference shares or convertible instruments
Businesses taking strategic investment from a corporate partner
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What we will do for you
This is what we will do for you
<ul><li>Review the term sheet and identify what it will mean in the long-form documents</li><li>Draft or negotiate the subscription agreement and the conditions to completion</li><li>Negotiate warranties, disclosure and the limits on founder liability</li><li>Agree reserved matters, board composition and information rights</li><li>Complete the allotment, filings and cap table updates</li></ul>
What’s Included
What’s Included in our service for you
Term sheet review with the downstream consequences identified
Subscription agreement drafted or negotiated
Warranty, disclosure and founder liability package
Shareholders agreement covering control, transfer and exit
Allotment, statutory filings and cap table update
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Why Choose Legal That Works?
Why Choose Us To Assist You?
Digital-first
No office visit required—review and sign online
Transparent fees
Fixed price, no billing surprises
Deep experience
Various contracts across industries
Accessible
Our client portal keeps you informed
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We've Helped
You Need To Act Now
Important: Limited Slots
Almost every investor right is settled at term sheet stage. By long-form drafting the negotiation is about wording, not about whether the right exists.
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Nothing to Lose. Everything to Protect.
No Surprises. No Guesswork. Just Legal That Works.
Before anything starts, we speak with you to understand your business and make sure the service is the right fit. If it is not, we will say so upfront. No pressure. No wasted time. We only take on matters we are confident we can deliver with quality. That is why business owners trust us to get it right.
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Frequently Asked Questions
What is Legal That Works?
Legal That Works is a digital-first legal service designed by ASCO LAW (Messrs Akmal Saufi & Co) specifically for business owners and founders. We help you structure, grow, and protect your business through practical legal solutions—delivered fast, in plain English & Bahasa Malaysia, and with no office visit required.
What if I’m not sure what legal service I need?
No problem. Most business owners aren’t legal experts! Just reach out. Our team will guide you to the right service or help you understand your options—without jargon or upselling.
What is a liquidation preference?
It determines who gets paid first on an exit and how much. It can mean founders receive far less than their percentage suggests, so it deserves careful attention.
Should we issue ordinary or preference shares?
Investors usually want preference shares. What matters is which preferences attach and how they behave in a downside scenario.
What are reserved matters?
Decisions the company cannot take without investor consent. Drawn too widely they can paralyse ordinary operations, so the list should be negotiated carefully.
Do founders give personal warranties?
Often, and the extent should be negotiated hard. Uncapped founder warranties are a serious personal exposure.
Can you act for us as the investor?
Yes. We act for companies and investors, though never on the same round.
Are your services affordable?
Our transparent fee structure means no billing surprises. Membership unlocks the best rates, but even one-off services are designed to be clear and competitive. You’ll always know what you pay.
Who will be helping me?
All our services are delivered by our licensed lawyers under the Malaysian Bar with proven experience across industries. You’ll work with a real legal team, not chatbots or generic customer support.
Is everything done online?
Yes. Our service is fully digital. You can consult, review documents, sign agreements, and access your files securely from anywhere. No office visit required unless you want to meet in person. No office visit is required. If you require us to attend at your office or outside meetings, additional charges will apply.
What’s the difference between One-Off Service and Membership?
(1) One-Off Service: Pay for what you need, when you need it. Perfect for single transactions or urgent matters (2) Membership: Subscribe for ongoing access, priority support, and special pricing. Membership means you get a legal partner who truly understands your business.
