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kennycastaneda edited this page Apr 2, 2026 · 8 revisions

Open Cap Format (OCF)

OCF is a JSON Schema-based data standard for company capitalization tables developed by the Open Cap Table Coalition. This specification enables AI agents to generate valid OCF objects and transactions from corporate legal documents including incorporation docs, stock purchase agreements, convertible notes, SAFEs, stock option grants, warrant agreements, and board resolutions.

What is OCF?

OCF represents cap tables as a collection of JSON files, each containing specific object types. The format uses JSON Schema for validation and supports the complete lifecycle of securities from issuance through conversion, exercise, transfer, and cancellation.

Core Principles for AI Agents

When generating OCF from legal documents:

  1. Every object must have a unique id - Generate UUIDs or use descriptive identifiers
  2. Set correct object_type constant - Must match schema (e.g., "TX_STOCK_ISSUANCE", "STAKEHOLDER")
  3. Reference objects by id - Use stakeholder_id, stock_class_id, security_id to link related objects
  4. Preserve chronological order - Transactions must be dated correctly and sequenced properly
  5. Validate required fields - Each schema defines required properties that must be present
  6. Use proper enums - Values like stakeholder_type, class_type must match defined enum values
  7. Model transactions, not just state - OCF is transaction-based; represent each event separately

OCF File Structure

An OCF package consists of 10 file types, each containing an array of objects:

  • OCF_MANIFEST_FILE - Root document with issuer info and file references
  • OCF_STAKEHOLDERS_FILE - All stakeholders (investors, employees, founders, institutions)
  • OCF_STOCK_CLASSES_FILE - Stock classes (Common, Preferred Series A/B/C, etc.)
  • OCF_STOCK_PLANS_FILE - Equity compensation plans
  • OCF_VESTING_TERMS_FILE - Vesting schedules
  • OCF_FINANCINGS_FILE - Financing rounds grouping related issuances
  • OCF_TRANSACTIONS_FILE - All transactions (issuances, conversions, exercises, transfers, adjustments)
  • OCF_VALUATIONS_FILE - Company valuations
  • OCF_DOCUMENTS_FILE - References to source legal documents
  • OCF_STOCK_LEGEND_TEMPLATES_FILE - Stock restriction legends

Wiki Pages

  • Object Types Reference - All foundational objects (Issuer, Stakeholder, StockClass, etc.) and transaction types (issuance, conversion, exercise, transfer, adjustment, vesting)
  • Legal Document Mapping - How to translate legal documents (incorporation docs, stock purchase agreements, SAFEs, convertible notes, option grants, warrants, board resolutions) into OCF objects, plus transaction sequencing patterns
  • Schema Patterns and Types - Schema composition patterns, core data types, common enumerations, validation requirements, schema documentation links, and sample files
  • Flattened Schemas - ~230 AI-optimized schemas where all $ref and allOf inheritance is resolved into single self-contained JSON files. Includes object schemas, file-level schemas, individual transaction types, and ~130 pre-flattened convertible/warrant issuance variants (one per trigger x conversion right x mechanism combination). Generated by flatten_json_schema.mjs

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