...“The time was right for us to move forward and change some of the practices,” said Craig Sherman, a partner at Wilson Sonsini Goodrich & Rosati.
This summer, Wilson Sonsini helped launch, with other groups, the Open Cap Table Coalition. The coalition, which just held its first summit last week, is an attempt to standardize an aspect of the startup landscape that can at times resemble the Wild West. Others in the group are law firms Gunderson Dettmer, Latham & Watkins, Orrick Herrington & Sutcliffe, Cooley, Fenwick & West and Goodwin Procter, as well as software providers LTSE Software, Carta and Morgan Stanley’s Shareworks.
“The private market ecosystem has just grown tremendously,” said Kevin Swan, co-head of global private markets at Morgan Stanley’s workplace arm, which encompasses the equity platform Shareworks. “
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