# Metadata Source URL:: https://www.dentonsventurebeyond.com/resource-center/safes/ Topics:: #business --- # SAFEs - Dentons ventureBeyond What is a SAFE? SAFE stands for Simple Agreement for Future Equity. The SAFE was developed in California and popularized by leading Silicon Valley ## Highlights > [!quote]+ Updated on 080223_105953 > > MFN Clause: In a most favored nation (MFN) clause, if subsequent convertible securities are issued to future investors at better terms (e.g., a lower valuation cap), the better terms will automatically apply to the investor’s SAFE. This clause falls away on conversion of the SAFE into company stock.