investors-rights-agreement

name	investors-rights-agreement
title	Investors' Rights Agreement
description	Drafts a U.S. Investors' Rights Agreement for VC/private equity financings, covering registration rights, information/management rights, pro rata rights, expenses, and termination. Use when drafting an IRA, Amended and Restated IRA, or VC financing governance package. Trigger keywords: "investors' rights agreement", "IRA", "registration rights", "piggyback", "Form S-3", "information rights", "management rights", "pro rata", "ROFO".
author	CaseMark
author_url	https://github.com/CaseMark/skills/tree/main/skills/legal/investors-rights-agreement
license	Apache-2.0
version	0.1.0
execution_mode	open
jurisdiction	us
practice	securities
language	en
tags	["agreement","corporate","drafting","transactional"]

Investors' Rights Agreement

Draft a market-standard, internally consistent IRA tied to the financing closing. All defined terms must align with the SPA and Charter.

Prerequisites

Gather before drafting:

• Transaction docs — SPA, Charter, Voting Agreement, ROFR/Co-Sale, cap table, closing schedule
• Party data — legal names, jurisdictions, notice addresses, signature authority
• Deal economics — share classes, price, amounts, investor thresholds
• Negotiated terms — thresholds, timing, delays, cutback priority, termination triggers
• Governing law + forum — selected state and venue
• Investor-specific items — ERISA management rights, observer rights, side letters

Core Workflow

1. Schedules and Parties

• Company legal name + jurisdiction (from Charter)
• Schedule A (Investors): name, address, series/shares, original purchase price
• Schedule B (Founders): name, address, shares/class
• Effective date = closing date (match SPA)

2. Definitions

Align all to SPA/Charter. Required minimums:

Registrable Securities (with exclusions), Holder, Initiating Holders, Major Investor threshold, New Securities, Excluded Securities, Deemed Liquidation Event (from Charter), Form S-3 / Register / Registration Statement (if used).

3. Registration Rights

Key levers — fill from deal terms:

Topic	Default Range	Variable
Demand threshold	25–40% of Registrable Securities	{{DemandPct}}
Demand count	1–2	{{DemandCount}}
Demand minimum	$5–10M offering size	{{DemandMin}}
Delay right	up to 90 days / 12 months	{{DelayLimit}}
Piggyback notice	10–20 business days