In what could be good news for entrepreneurs, some well-known Silicon Valley investors and lawyers just announced they've developed streamlined term sheets for seed investments of under $1.5 million that they hope will become the industry standard.

But, the effort to create a true standard still has a ways to go.

The group includes such notable firms and super-angels as First Round Capital, True Ventures, Charles River Ventures,  Ron Conway and Mike Maple, along with Andreessen Horowitz . That's the firm launched last summer by Netscape co-founder Marc Andreessen and his investing partner Ben Horowitz to great fanfare; the $300 million fund is aimed at seed investments of as a little as $50,000. The documents, better known as "Series Seed docs", were drawn up by Ted Wang, an attorney with Fenwick & West.

The group unveiled the 30 pages of free documents on a web site earlier this week. They're for entrepreneurs looking for $300,000 to $1.5 million in funding and are a far cry from the 100- page headache company founders usually have to fill out--a complex set of documents suited to larger deals more typical of venture capital these days. 

 Sounds good? There's one problem, however. There are at least three other enterprises with their own attempts at standardized seed financing documents, as venture capitalist Brad Feld recently pointed out . Venture accelerators TechStar,  Y Combinator, and Founder Institute, respectively,  have their Model Seed Funding Documents,  Series AA Equity Financing Documents, and Plain Preferred Term Sheet.

Indeed, seems this is a case where you really can have too much of a good thing.

Ultimately, any attempt  at standardization would save startups time and money, give them a clearer sense of what's required, and result in shorter, more efficient negotiations. But, with all these different formats, it looks like investors have their work cut out for them before they attain that goal.

Still, it's encouraging to see, during these tough times, so many attempts to fund promising startups--and to make the process more efficient.