Weil Gotshal: supporting the NVCAA consortium of private equity houses and top US law firms have joined forces to draw up free standard documents – a move that will put intense pressure on UK lawyers to follow suit.

The innovative project, which has the support of firms like Weil Gotshal & Manges and Latham & Watkins, will lead to documents being freely available online at the web address of the National Venture Capital Association (NVCA).