Software Drafting and Attorney-Led Drafting

PPMWizard vs attorney-led drafting

These are two ways to begin drafting: assemble a software starting draft for separately retained counsel, or retain counsel to lead drafting from the outset. PPMWizard provides drafting software, not legal services. Every PPMWizard draft requires qualified securities counsel’s review before issuance. The software fee and an attorney engagement cover different services; no reduction in legal fees or review time is promised.

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No card required · Attorney review required

Attorney-led drafting

A bespoke legal engagement

In an attorney-led first-draft engagement, you give securities counsel a summary of your deal · sponsor, target, exemption, waterfall, investor list · and an attorney drafts a PPM under the engagement, often using the firm’s own precedent and drafting process. Counsel defines the engagement scope, timing, revision rounds, stakeholder review, and final deliverables.

Fees depend on deal complexity, firm seniority, jurisdiction, and scope. The output can be fully bespoke: provisions you and counsel negotiate can be written into the document. Ask counsel for a written engagement letter and estimate.

Draft-with-wizard-then-review

A guided draft, then counsel review

You walk the guided wizard, answer structured questions about your exemption, sponsor, target, and waterfall, and export a draft PPM your securities attorney can review. The attorney is still engaged and decides what must be revised or added.

PPMWizard is $29 once to unlock one offering’s export package and revisions, or $49/month for unlimited drafts and exports while Pro is active. Those software prices do not include attorney review, filing fees, other vendor costs, or any applicable taxes. Counsel quotes their work separately.

Side by Side

Eight topics to discuss with counsel

This compares drafting starting points, not equivalent legal-service packages. Both paths require counsel; engagement scope, fees, timing, and final deliverables depend on the offering.

Starting draft and timing

Attorney-led drafting

Timing is set by counsel and depends on availability, complexity, and revision rounds.

PPMWizard + counsel review

A draft preview assembles from your inputs. Export access is paid; the time to a draft suitable for use depends on the offering, counsel review, and required revisions.

Software fee and legal engagement

Attorney-led drafting

The legal engagement is quoted by your chosen counsel based on complexity, jurisdiction, firm, and scope. Ask which drafting and review work is included.

PPMWizard + counsel review

$29 once for one offering's export package and revisions, or $49/month for unlimited drafts and exports while Pro is active. These are software fees; counsel sets and charges for the legal engagement separately.

Customization and scope

Attorney-led drafting

Counsel can draft negotiated provisions within the scope of the engagement.

PPMWizard + counsel review

Structured fields and narrative inputs organize a starting draft. Counsel determines what provisions to revise, replace, or add, including terms outside the wizard's scope.

Formal legal opinion

Attorney-led drafting

Only if the engagement expressly includes one; drafting a PPM does not by itself include a formal legal opinion.

PPMWizard + counsel review

None. PPMWizard is a drafting tool, not a law firm. Legal opinions must come from your counsel.

Attorney engagement required

Attorney-led drafting

Counsel leads the drafting under the agreed legal engagement.

PPMWizard + counsel review

Separately retained counsel reviews the PPMWizard draft and determines required revisions before issuance. The software fee does not include legal representation.

Working files and deliverables

Attorney-led drafting

Defined by the engagement; ask counsel which editable files and other deliverables are included.

PPMWizard + counsel review

Paid software exports include editable Word, a draft PDF, an investor questionnaire where supported, an applicable Form D preparation worksheet, and a real-estate Excel model where applicable. Counsel defines the final legal deliverables. Word edits do not sync back automatically.

Updates for subsequent deals

Attorney-led drafting

Depends on the engagement, the reusable work counsel retains, and how much the next offering changes.

PPMWizard + counsel review

Pro supports additional drafts and exports while active. A different offering requires its own facts and counsel review; the next legal engagement and fees remain separate.

Sample offerings for inspiration

Attorney-led drafting

Depends on the firm, engagement, and what precedent materials counsel is able to provide.

PPMWizard + counsel review

21 fictional sample offerings illustrate the workflows. They are not evidence of completed raises or a substitute for deal-specific disclosures and legal review.

PPMWizard software fees exclude counsel fees, filing fees, other vendor charges, and any applicable taxes. Software use does not guarantee accuracy, completeness, compliance, lower legal fees, or shorter review. Counsel determines the engagement scope and final legal deliverables.

A Non-Negotiable Disclaimer

PPMWizard is not a replacement for a securities attorney

Read this carefully. Every PPM drafted on PPMWizard must be reviewed by a qualified securities attorney licensed in your jurisdiction before you issue it to investors. You retain counsel separately. Counsel determines the offering’s legal requirements and whether the draft needs additions, revisions, or replacement.

A software draft changes the starting materials presented to counsel. It does not determine the work counsel must do. Ask counsel for a written scope covering disclosure, calculations, consistency across documents, and any required revisions. Neither the software fee nor the existence of a starting draft predicts the total legal cost or review time.

If you do not already have securities counsel, a state bar referral service may help you identify a practitioner. Confirm relevant securities experience and licensing. Ask prospective counsel for a written scope, fee, timeline, and revision policy; those terms vary by lawyer, jurisdiction, and offering complexity.

The honest test

Draft your deal. Send it to counsel.

Walk the wizard, review the free draft preview, and ask your securities attorney which starting point fits the offering and what scope they would propose for review or attorney-led drafting.

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Drafting tool only · attorney review required before issuance