Explain how legal circumference relates to fund raising.

Legal documentation spells out the terms,conditions,responsibilities,and rights of the parties to a transaction.Because different sources have different ways of structuring deals,and because these legal and contractual details come at the end of the fund-raising process,an entrepreneur may arrive at a point of no return,facing some onerous conditions and covenants that not only are difficult to live with but also create tight limitations and constraints-legal circumference-on future choices that are potentially harmful.