If you want to raise a small amount of money (<$100k) it's the ideal way to go. You won't have to end up giving a significant chunk of your funds to a lawyer, t

If you want to raise a small amount of money (<$100k) it's the ideal way to go. You won't have to end up giving a significant chunk of your funds to a lawyer, the contract will generally be easy for all parties to understand, and if you're at an early stage you won't have to deal with determining valuation. Definitely recommended for most early situations.