I am planning a friends and family round for a web application that I am launching in the next few months, but I was wondering if there is any standard protocol around the terms for this type of proposal. It seems like many startups begin with this type of funding to get their product off the ground, but I see very few examples of what the terms consisted of. Do they involve common stock? Simply a loan with a set interest rate? Can anyone share the terms they used when structuring this type of funding?