Terms of Service

These Terms of Service (the “Terms”) are a binding agreement between you and Prudence AI, LLC (“we,” “us,” or “our”), the company that operates Founder Memo. They govern your access to and use of the Founder Memo websites, applications, memos, audio briefings, and related services (collectively, the “Service”).

By creating an account, accepting an invitation, subscribing, submitting materials, or otherwise using the Service, you agree to these Terms and acknowledge our Privacy Policy. Subscription terms shown at checkout form part of these Terms. If you use the Service for an organization, you represent that you have authority to bind that organization, and “you” includes that organization. If you do not agree, do not use the Service.

You must be at least 18 years old and legally able to enter into a contract, and you may not use the Service if applicable law, including U.S. sanctions and export-control law, prohibits you from doing so. You must provide accurate account information, protect access to your email and account, and promptly tell us about suspected unauthorized use. You sign in with a link or code that we email you, so anyone who can open that email can sign in as you. You are responsible for activity conducted through your account and for ensuring that your organization’s members comply with these Terms.

Organization owners and administrators control membership and access. Content available to an organization may be visible to its authorized members according to their roles. You are responsible for inviting the correct people and maintaining appropriate permissions.

You can begin a memo before you have an account. Until you confirm your email, your draft is tied to the browser where you started it, and we may not be able to recover it if you clear that browser’s data or switch devices. A draft does not move into an account that already exists.

Founder Memo prepares an AI-assisted analysis of a company, called a memo, from the details and materials you provide and from public sources. A memo can include a verdict, ranked strengths and risks, and what to test next. It comes with an audio briefing, which the Service may also call the podcast: a spoken conversation about the memo’s findings between two synthetic voices. The Service uses probabilistic systems and third-party sources. Outputs may be incomplete, outdated, misleading, or wrong, and may omit important facts or present unsupported conclusions.

A memo may describe how an investor, lender, acquirer, or other reader could view your company. Those perspectives are simulated by software. They are not statements by, opinions of, or predictions about any actual investor or institution, and real decision-makers may reach different conclusions for reasons a memo does not capture.

The Service does not provide legal, investment, financial, tax, accounting, employment, medical, cybersecurity, or other professional advice. We are not your adviser, broker, fiduciary, attorney, or accountant, and we are not a broker-dealer, investment adviser, or funding portal. Nothing in the Service is an offer or solicitation to buy or sell securities, or a recommendation about any investment, financing, or valuation. No memo, verdict, ranking, citation, or recommendation is a promise of an outcome, including that you will raise capital, win a customer, or avoid a loss, and none is a substitute for qualified professional advice, direct diligence, or your own judgment.

You are solely responsible for reviewing memos, checking sources and material facts, obtaining advice appropriate to your situation, and deciding whether and how to act. Do not rely on the Service as the sole basis for a decision about fundraising, hiring, spending, pricing, a transaction, or any other consequential matter.

Names of investors, firms, programs, or companies that appear in a memo are used only to identify or illustrate. They do not mean that any of them reviewed, sponsored, or endorsed the memo or your company. The sample memos on our website describe fictional companies.

Founder Memo is sold as an annual subscription for one organization, meaning the workspace in which you and your team use the Service. Each subscription covers one company and one core topic: the business and the main subject you ask us to examine. Your questions may change from one revision to the next, and new evidence, a changed plan, a fixed weakness, or a different reader’s perspective on the same company and topic are all included. A different company, or a different main topic, requires a new subscription.

Each paid year, meaning the twelve months that a subscription payment covers, includes one initial memo and 11 revisions of it. A revision is a new version of the same memo after you add evidence, address a weakness, or change your questions. You can start a revision during the paid year once your memo has been delivered, as long as no other memo or revision is being prepared. When the subscription renews, you receive a new allowance of one initial memo and 11 revisions. Whatever you have not started by the end of the paid year, whether the initial memo or a revision, expires and does not roll over.

Before a revision starts, we review the updated details, using automated tools, to confirm that it continues the same company and core topic. If we need more information, we will ask for it. If the update appears to concern a different company or main topic, we will say why, and you can ask us to take another look by explaining how it continues the same memo; a member of our team will review your explanation. A review that does not lead to a revision does not use one: a revision is used when you start it.

We will email you when a memo is ready. If a memo has not been delivered by the time the Service tells you it was due, you can choose to keep waiting, at no extra cost, or to give back your memo credit, which is the memo that your paid year includes. Giving it back returns the credit to your paid year so that you can start a new memo; the late memo closes and we stop working on it. No money moves.

Members of your organization can use the subscription according to their roles. Adding members does not add memos or revisions.

The subscription price is US $200 per year, or the price shown at checkout when you subscribe. Prices are in U.S. dollars. The price shown at checkout is the total we charge; we do not currently add sales tax, and if we begin collecting tax, checkout will show it before you pay. You are responsible for any other taxes that apply to you. Your card statement may show Founder Memo or our company name, Prudence AI, LLC.

Your subscription renews automatically every year. When you subscribe, you authorize us and our payment processor to charge your payment method the subscription price now and again on each yearly anniversary, at the price then in effect, until you cancel. We may reject suspected payment abuse and correct pricing and billing errors.

Before each renewal we will email a reminder to the billing address on file. It will state the renewal date and the amount to be charged, and explain how to cancel. If the price is going to change, we will tell you by email before the change takes effect, in time for you to cancel before you are charged the new price.

You can cancel at any time. The person who pays for the subscription can cancel from the Account page by choosing “Manage subscription,” which opens the billing page where you can also update your payment method and see your invoices. You do not need to contact us or give a reason. If the person who pays has left your organization, contact us. Canceling stops future renewals and takes effect at the end of the paid year; until then you can keep starting memos and revisions as described in Section 4. When the subscription ends, you cannot start new memos or revisions unless you resubscribe, which lets you pick up where you left off. Memos already delivered generally remain in your account, as the Privacy Policy describes, and we recommend downloading anything you want to keep.

We do not prorate or refund the unused part of a paid year when you cancel, except under the guarantee in Section 6 or where the law requires. If you are charged for a renewal you did not mean to keep, contact us as soon as you can at hello@foundermemo.com or through the feedback button in your account. We review every request in good faith, but renewal payments are otherwise non-refundable.

If a payment fails, we may retry it and may pause new memos and revisions until it succeeds. If you think a charge is wrong, please contact us before disputing it with your bank so that we can fix it quickly. If we refund a payment in full, the revisions that remain for that paid year close. If a payment is disputed, we may suspend access to the memos and revisions for the paid year it covered while the dispute is open. If the dispute is resolved in our favor, access is restored; if the payment is returned to you, that paid year stays closed.

We stand behind your first memo. If you are not satisfied after you read it, tell us within 30 days after it is delivered, and we will refund your full annual payment. You do not need to explain or justify your decision.

• What is covered. The first annual payment your organization makes for Founder Memo, and the first memo delivered under it. The guarantee is available once per organization and does not apply to renewals. A memo is delivered when it is available to you in your account, which is when we email you that it is ready.
• How to ask. Within the 30 days, use the feedback button in your account and choose “Payment or billing,” or email hello@foundermemo.com.
• What happens next. We refund the full payment to the payment method you used and reply to your request to confirm it. Your bank may take several business days to show it. When we issue the refund, we also end your subscription, and your remaining revisions close. The memo we delivered stays available for you to read, and copies you have already downloaded remain yours to use as described in Section 9.
• If we cannot deliver. If we are unable to deliver your first memo, you may ask for the same refund.
• Limits. The guarantee does not apply to a payment that has already been refunded or is being disputed with your bank, or to requests that are part of a pattern of fraud or abuse, such as repeated claims across accounts or organizations to obtain memos without paying for them. It has no other conditions.

The guarantee is separate from the late-memo choice described in Section 4, and it does not limit any right you have under applicable law.

The Service necessarily sends the details, materials, and instructions you submit, including a draft you submit for our automated review before you subscribe, to AI model providers, and may use other vendors for search, document extraction and text recognition, speech generation, hosting, storage, security, background processing, email, payments, and operations. Those providers process information on our behalf to operate the Service. Our Privacy Policy describes these practices and the limits of zero-data-retention and similar arrangements.

By submitting content for analysis, you instruct and authorize us to process it and disclose it to those service providers for the purposes of providing, securing, and supporting the Service. Do not submit content that you are not authorized to disclose or have processed in this way.

“Customer Content” means information, files, prompts, company and project details, questions, feedback, and other materials that you or your organization submit to the Service. As between you and us, you retain your rights in Customer Content. You grant us a limited, worldwide, non-exclusive license to host, copy, transmit, transform, analyze, and otherwise process Customer Content only as reasonably needed to operate, secure, support, and improve the Service (for example, by correcting errors and testing changes, but not by training an AI model of our own on it), comply with law, and enforce these Terms, in each case subject to the Privacy Policy.

You represent and warrant that:

• you have all rights, permissions, notices, and lawful bases needed to submit and process Customer Content, including any information it contains about investors, customers, employees, or other third parties;
• Customer Content and your instructions do not violate law, contract, confidentiality duties, privacy rights, intellectual-property rights, or another person’s rights; and
• you will not submit credentials, payment-card numbers or security codes, government identification numbers, protected health information, or other data that the Service is not designed to receive.

Materials for a memo often belong in part to others, such as data-room documents, customer lists, or investor correspondence. Submit them only if you are permitted to share them with service providers as described in these Terms.

You are responsible for the legality, accuracy, quality, and backup of Customer Content and for responding to people whose information you submit. Removing content from the Service may not immediately remove transient copies, backups, or copies held under a provider’s lawful retention requirements.

Subject to these Terms and applicable law, you may use the memos, audio briefings, and other outputs generated for you for your business or personal purposes, including sharing them as described in Section 10. Similar or identical outputs may be generated for others, and AI-generated material may not qualify for intellectual-property protection. Outputs may also contain third-party material or factual information in which neither you nor we own rights.

We and our licensors retain all rights in the Service, including its software, workflows, designs, templates, branding, models, compilations, and underlying technology. Except for the limited right to use the Service under these Terms, no rights are transferred to you. If you give us product feedback, you permit us to use it without restriction or compensation, but not to identify you publicly without your permission.

We will not publish your memos or Customer Content, or use your name or your company’s name in our marketing, without your permission.

Your memos are private to your organization by default, and its members can see them according to their roles. Nothing is public until a member of your organization creates a share link.

Members of your organization can create a share link for a memo, see the links that exist for it, and revoke any of them. A link can be created while a memo is still being prepared, and it then opens the memo as soon as it is delivered. Anyone who has a link can open the shared memo without an account, play its audio briefing, read the audio transcript, and download the memo files, so treat the link like the memo itself. A link can show your newest version, in which case it shows each later revision as soon as it is delivered, or stay fixed on the version you shared. It stays open until it is revoked or expires, and when it is created it can be set to expire in 7, 30, or 90 days, on a date you choose within the next year, or never. We count how many people open a link and show you those counts. The Privacy Policy explains what we record.

You decide who receives a link and what you say about the memo when you share it. A shared memo is AI-generated analysis. It has not been audited, verified, or endorsed by us, and it is not a valuation, a fairness opinion, or an investment recommendation. People who receive it from you may not rely on it as our statement about your company, and we owe them no duty. If you give a memo to investors, lenders, or others, you are responsible for how you describe it.

We do not sell Customer Content or personal information and do not disclose it for cross-context behavioral advertising. We use and disclose information as described in the Privacy Policy, including to service providers that operate the Service and when required by law. We are not a party to any confidentiality agreement you have with others, and these Terms are not a non-disclosure agreement. No internet service or contractual safeguard can guarantee absolute security or confidentiality.

You may not use the Service to:

• break the law, or facilitate harm, fraud, deception, or harassment;
• violate privacy, confidentiality, publicity, intellectual-property, or contractual rights;
• submit materials about a company, or analyze it, without authority to do so;
• make a fully automated high-impact decision about another person in employment, credit, housing, insurance, education, healthcare, or a similar area;
• upload malware, probe or bypass security, disrupt the Service, or gain unauthorized access;
• scrape, reverse engineer, resell, sublicense, or use the Service to build or train a competing product, except where law expressly permits;
• share an account, or use more than one account or organization, to cover several companies or topics with one subscription or to avoid the limits in Section 4; or
• present a memo as independently verified, as an audit or valuation, or as a statement made by us about a person or company.

We may investigate suspected misuse and remove content, restrict access, or suspend or terminate accounts when reasonably necessary to protect the Service, users, third parties, or us.

We may add, change, suspend, or discontinue features, providers, limits, or the Service. We do not guarantee that the Service or any particular output format, source, provider, or feature will always be available. We may terminate or suspend access for breach, security risk, legal requirement, nonpayment, or material harm to the Service or others.

You may stop using the Service at any time, and you can cancel your subscription as described in Section 5. Provisions that by their nature should survive—including payment obligations, ownership, disclaimers, limitations of liability, indemnity, and dispute terms—will survive termination.

To the fullest extent permitted by law, the Service and all outputs are provided “as is” and “as available.” We disclaim all express, implied, and statutory warranties, including warranties of accuracy, completeness, timeliness, merchantability, fitness for a particular purpose, title, non-infringement, quiet enjoyment, and results. We do not warrant that memos will be correct or useful, that they will lead to any funding, customer, or other result, that sources will remain available, that errors or harmful components will be absent, or that the Service will be uninterrupted or secure.

Third-party content, public sources, links, AI services, and other providers are outside our control. We are not responsible for their content, availability, retention, security, or conduct. Some jurisdictions do not allow certain disclaimers, so some of these limits may not apply to you.

Nothing in this Section, in Section 14, or in Section 15 limits the refund rights described in Section 5 and Section 6.

To the fullest extent permitted by law, we and our affiliates, officers, employees, contractors, licensors, and service providers will not be liable for indirect, incidental, special, consequential, exemplary, or punitive damages, or for lost profits, revenue, business, opportunities, financing, goodwill, data, or anticipated savings, arising from or related to the Service—even if advised that such damages are possible.

To the fullest extent permitted by law, the total aggregate liability of all of them together for all claims arising from or related to the Service will not exceed the greater of (a) US $100 or (b) the amount you paid us for the Service during the 12 months before the event giving rise to the claim. These limitations apply to all theories of liability and allocate risk between you and us. They do not limit liability that cannot lawfully be limited.

To the extent permitted by law, you will defend, indemnify, and hold harmless us and our affiliates, officers, employees, and contractors from claims, losses, liabilities, damages, judgments, costs, and reasonable attorneys’ fees arising from your Customer Content, your use or misuse of the Service or memos, your violation of these Terms, or your violation of another person’s rights. We may control the defense of a covered matter, and you will reasonably cooperate. You may not settle a claim in a way that admits fault by or imposes obligations on us without our written consent.

Before filing a formal claim, you and we agree to make a good-faith effort for 30 days to resolve the dispute after written notice. These Terms are governed by the laws of the State of Delaware, without regard to conflict-of-laws rules. Except where applicable law requires otherwise, any dispute arising from these Terms or the Service must be brought in the state or federal courts located in Delaware, and you and we consent to their jurisdiction and venue.

Neither party is liable for delay caused by events beyond its reasonable control. You may not assign these Terms without our written consent; we may assign them in connection with a reorganization, financing, merger, sale, or transfer of the Service. If a provision is unenforceable, it will be modified only as much as needed and the rest will remain effective. A waiver must be in writing. These Terms do not create rights for anyone else, including people who receive a memo from you. These Terms, the Privacy Policy, and any checkout-specific terms are the entire agreement about the Service and supersede prior discussions on that subject.

We may give you notices by email to the address on your account, if you have one, or by posting them in the Service, and you agree that your acceptance of these Terms by electronic means is binding.

We may update these Terms. We will post the revised version and update the effective date, and will provide additional notice or seek consent when required by law or when a change materially affects existing users. If a change affects the price or renewal of your subscription, we will email you before it takes effect, in time for you to cancel. Continued use after updated Terms take effect means you accept them.

Questions or legal notices may be sent to Prudence AI, LLC at hello@foundermemo.com.