<PAGE>

                                                                    EXHIBIT 3.03



                     ____________________________________

                          AMENDED AND RESTATED BYLAWS

                                       OF

                                INTERWOVEN, INC.


                            (a Delaware corporation)



                        As amended through December 2000

                     ____________________________________
<PAGE>

                          AMENDED AND RESTATED BYLAWS
                                       OF
                                INTERWOVEN, INC.

                            (a Delaware corporation)


                               TABLE OF CONTENTS

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                                                                        PAGE
                                                                        ----
<S>                                                                     <C>
ARTICLE I - STOCKHOLDERS                                                   1

     Section 1.1:     Annual Meetings..................................    1

     Section 1.2:     Special Meetings.................................    1

     Section 1.3:     Notice of Meetings...............................    1

     Section 1.4:     Adjournments.....................................    2

     Section 1.5:     Quorum...........................................    2

     Section 1.6:     Organization.....................................    2

     Section 1.7:     Voting; Proxies..................................    2

     Section 1.8:     Fixing Date for Determination of Stockholders
                      of Record........................................    3

     Section 1.9:     List of Stockholders Entitled to Vote............    4

     Section 1.10:    Action by Written Consent of Stockholders........    4

     Section 1.11:    Inspectors of Elections..........................    5

     Section 1.12:    Notice of Stockholder Business; Nominations......    6

ARTICLE II - BOARD OF DIRECTORS........................................    8

     Section 2.1:     Number; Qualifications...........................    8

     Section 2.2:     Election; Resignation; Removal; Vacancies........    8
</TABLE>
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     Section 2.3:     Regular Meetings.................................    9

     Section 2.4:     Special Meetings.................................    9

     Section 2.5:     Telephonic Meetings Permitted....................    9

     Section 2.6:     Quorum; Vote Required for Action.................   10

     Section 2.7:     Organization.....................................   10

     Section 2.8:     Written Action by Directors......................   10

     Section 2.9:     Powers...........................................   10

     Section 2.10:    Compensation of Directors........................   10

ARTICLE III - COMMITTEES...............................................   10

     Section 3.1:     Committees.......................................   10

     Section 3.2:     Committee Rules..................................   11

ARTICLE IV - OFFICERS..................................................   11

     Section 4.1:     Generally........................................   11

     Section 4.2:     Chief Executive Officer..........................   12

     Section 4.3:     Chairman of the Board............................   12

     Section 4.4:     President........................................   12

     Section 4.5:     Vice President...................................   13

     Section 4.6:     Chief Financial Officer..........................   13

     Section 4.7:     Treasurer........................................   13

     Section 4.8:     Secretary........................................   13

     Section 4.9:     Delegation of Authority..........................   13
</TABLE>
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     Section 4.10:    Removal..........................................   13

ARTICLE V - STOCK......................................................   13

     Section 5.1:     Certificates.....................................   13

     Section 5.2:     Lost, Stolen or Destroyed Stock Certificates;
                      Issuance of New Certificate......................   14

     Section 5.3:     Other Regulations................................   14

ARTICLE VI - INDEMNIFICATION...........................................   14

     Section 6.1:     Indemnification of Officers and Directors........   14

     Section 6.2:     Advance of Expenses..............................   14

     Section 6.3:     Non-Exclusivity of Rights........................   15

     Section 6.4:     Indemnification Contracts........................   15

     Section 6.5:     Effect of Amendment..............................   15

ARTICLE VII - NOTICES..................................................   15

     Section 7.l:     Notice...........................................   15

     Section 7.2:     Waiver of Notice.................................   16

ARTICLE VIII - INTERESTED DIRECTORS....................................   16

     Section 8.1:     Interested Directors; Quorum.....................   16

ARTICLE IX - MISCELLANEOUS.............................................   17

     Section 9.1:     Fiscal Year......................................   17

     Section 9.2:     Seal.............................................   17

     Section 9.3:     Form of Records..................................   17

     Section 9.4:     Reliance Upon Books and Records..................   17
</TABLE>
<PAGE>

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     Section 9.5:     Certificate of Incorporation Governs.............   17

     Section 9.6:     Severability.....................................   18

ARTICLE X - AMENDMENT..................................................   18

     Section 10.1:    Amendments.......................................   18
</TABLE>
<PAGE>

                          AMENDED AND RESTATED BYLAWS

                                      OF

                               INTERWOVEN, INC.

                           (a Delaware corporation)

                       As amended through December 2000


                                   ARTICLE I

                                 STOCKHOLDERS


     Section 1.1:  Annual Meetings.  An annual meeting of stockholders shall be
     -----------   ---------------
held for the election of directors at such date, time and place, either within
or without the State of Delaware, as the Board of Directors shall each year fix.
Any other proper business may be transacted at the annual meeting.

     Section 1.2:  Special Meetings.  Special meetings of stockholders for any
     -----------   ----------------
purpose or purposes may be called at any time by the Chairman of the Board, the
Chief Executive Officer, the holders of shares of the Corporation that are
entitled to cast not less than a ten percent (10%) of the total number of votes
entitled to be cast by all stockholders at such meeting (the "Ten Percent
                                                              -----------
Stockholders"), or by a majority of the members of the Board of Directors.
------------
Special meetings may not be called by any other person or persons.  If a special
meeting of stockholders is called by any person or persons other than by a
majority of the members of the Board of Directors, then such person or persons
shall call such meeting by delivering a written request to call such meeting to
each member of the Board of Directors, and the Board of Directors shall then
determine the time, date and place of such special meeting, which shall be held
not more than one hundred twenty (120) nor less than thirty-five (35) days after
the written request to call such special meeting was delivered to each member of
the Board of Directors.  Following the closing of the corporation's initial
public offering pursuant to an effective registration statement under the
Securities Act of 1933, as amended, covering the offer and sale of Common Stock
to the public (the "Initial Public Offering"), Ten Percent Stockholders may not
                    -----------------------
call a Special Meeting of Stockholders.

     Section 1.3:  Notice of Meetings.  Notice of all meetings of stockholders
     -----------   ------------------
shall be given in writing or by electronic transmission in the manner provided
by law (including, without limitation, as set forth in Section 7.1(b) of these
Bylaws stating the place, date and time of the meeting and, in the case of a
special meeting, the purpose or purposes for which the meeting is called.
Unless otherwise required by applicable law or the Certificate of Incorporation
of the Corporation, such notice shall be given not less than ten (10) nor more
than sixty (60) days before the date of the meeting to each stockholder entitled
to vote at such meeting.
<PAGE>

     Section 1.4:  Adjournments.  Any meeting of stockholders may adjourn from
     -----------   ------------
time to time to reconvene at the same or another place, and notice need not be
given of any such adjourned meeting if the time, date and place thereof are
announced at the meeting at which the adjournment is taken; provided, however,
                                                            --------  -------
that if the adjournment is for more than thirty (30) days, or if after the
adjournment, a new record date is fixed for the adjourned meeting, then a notice
of the adjourned meeting shall be given to each stockholder of record entitled
to vote at the meeting.  At the adjourned meeting, the Corporation may transact
any business that might have been transacted at the original meeting.

     Section 1.5:  Quorum.  At each meeting of stockholders, the holders of a
     -----------   ------
majority of the shares of stock entitled to vote at the meeting, present in
person or represented by proxy, shall constitute a quorum for the transaction of
business, except if otherwise required by applicable law.  If a quorum shall
          ------
fail to attend any meeting, the chairman of the meeting or the holders of a
majority of the shares entitled to vote who are present, in person or by proxy,
at the meeting may adjourn the meeting.  Shares of the Corporation's stock
belonging to the Corporation (or to another corporation, if a majority of the
shares entitled to vote in the election of directors of such other corporation
are held, directly or indirectly, by the Corporation), shall neither be entitled
to vote nor be counted for quorum purposes; provided, however, that the
                                            --------  -------
foregoing shall not limit the right of the Corporation or any other corporation
to vote any shares of the Corporation's stock held by it in a fiduciary
capacity.

     Section 1.6:  Organization.  Meetings of stockholders shall be presided
     -----------   ------------
over by such person as the Board of Directors may designate, or, in the absence
of such a person, the Chairman of the Board, or, in the absence of such person,
the President of the Corporation, or, in the absence of such person, such person
as may be chosen by the holders of a majority of the shares entitled to vote who
are present, in person or by proxy, at the meeting.  Such person shall be
chairman of the meeting and, subject to Section 1.12 hereof, shall determine the
order of business and the procedure at the meeting, including such regulation of
the manner of voting and the conduct of discussion as seems to him or her to be
in order.  The Secretary of the Corporation shall act as secretary of the
meeting, but in his or her absence, the chairman of the meeting may appoint any
person to act as secretary of the meeting.

     Section 1.7:  Voting; Proxies.  Unless otherwise provided by law or the
     -----------   ---------------
Certificate of Incorporation of the Corporation, and subject to the provisions
of Section 1.8 of these Bylaws, each stockholder shall be entitled to one (1)
vote for each share of stock held by such stockholder.  Each stockholder
entitled to vote at a meeting of stockholders, or to express consent or dissent
to corporate action in writing without a meeting, may authorize another person
or persons to act for such stockholder by proxy.  Such a proxy may be prepared,
transmitted and delivered in any manner permitted by applicable law.  Voting at
meetings of stockholders need not be by written ballot unless such is demanded
at the meeting before voting begins by a stockholder or stockholders holding
shares representing at least one percent (1%) of the votes entitled to vote at
such meeting, or by such stockholder's or stockholders' proxy; provided,
                                                               --------
however, that an election of directors shall be by written ballot if demand is
-------
so made by any stockholder at the meeting before voting begins.  If a vote is to
be taken by written ballot, then each such ballot shall state the name of the
stockholder or proxy voting and such other

                                      -2-
<PAGE>

information as the chairman of the meeting deems appropriate. Directors shall be
elected by a plurality of the votes of the shares present in person or
represented by proxy at the meeting and entitled to vote on the election of
directors. Unless otherwise provided by applicable law, the Certificate of
Incorporation of the Corporation or these Bylaws, every matter other than the
election of directors shall be decided by the affirmative vote of the holders of
a majority of the shares of stock entitled to vote thereon that are present in
person or represented by proxy at the meeting and are voted for or against the
matter.

     Section 1.8:  Fixing Date for Determination of Stockholders of Record.
     -----------   -------------------------------------------------------

     (a) Generally.  In order that the Corporation may determine the
         ---------
stockholders entitled to notice of or to vote at any meeting of stockholders or
any adjournment thereof, or to express consent to corporate action in writing
without a meeting, or entitled to receive payment of any dividend or other
distribution or allotment of any rights, or entitled to exercise any rights in
respect of any change, conversion or exchange of stock or for the purpose of any
other lawful action, the Board of Directors may fix, in advance, a record date,
which shall not precede the date upon which the resolution fixing the record
date is adopted by the Board of Directors and which shall not be more than sixty
(60) nor less than ten (10) days before the date of such meeting, nor more than
sixty (60) days prior to any other action.  If no record date is fixed by the
Board of Directors, then the record date shall be as provided by applicable law.
A determination of stockholders of record entitled to notice of or to vote at a
meeting of stockholders shall apply to any adjournment of the meeting; provided,
                                                                       --------
however, that the Board of Directors may fix a new record date for the adjourned
-------
meeting.

     (b) Stockholder Request for Action by Written Consent.  For such period of
         -------------------------------------------------
time as stockholders are authorized to act by written consent pursuant to the
provisions of the Certificate of Incorporation of the Corporation and Section
1.10 hereof, any stockholder of record seeking to have the stockholders
authorize or take corporate action by written consent without a meeting shall,
by written notice to the Secretary of the Corporation, request the Board of
Directors to fix a record date for such consent.  Such request shall include a
brief description of the action proposed to be taken.  The Board of Directors
shall, within ten (10) days after the date on which such a request is received,
adopt a resolution fixing the record date.  Such record date shall not precede
the date upon which the resolution fixing the record date is adopted by the
Board of Directors, and shall not be more than ten (10) days after the date upon
which the resolution fixing the record date is adopted by the Board of
Directors.  If no record date has been fixed by the Board of Directors within
ten (10) days after the date on which such a request is received, then the
record date for determining stockholders entitled to consent to corporate action
in writing without a meeting, when no prior action by the Board of Directors is
required by applicable law, shall be the first date on which a signed written
consent setting forth the action taken or proposed to be taken is delivered to
the Corporation by delivery to its registered office in the State of Delaware,
to its principal place of business or to any officer or agent of the Corporation
having custody of the book in which proceedings of meetings of stockholders are
recorded.  Delivery made to the Corporation's registered office shall be by hand
or by certified or registered mail, return receipt requested.  If no record date
has been fixed by the Board of Directors and prior action by the Board of
Directors is required by applicable law, then the record date for

                                      -3-
<PAGE>

determining stockholders entitled to consent to corporate action in writing
without a meeting shall be at the close of business on the date on which the
Board of Directors adopts the resolution taking such prior action.

     Section 1.9:  List of Stockholders Entitled to Vote.  A complete list of
     -----------   -------------------------------------
stockholders entitled to vote at any meeting of stockholders, arranged in
alphabetical order and showing the address of each stockholder and the number of
shares registered in the name of each stockholder, shall be open to the
examination of any stockholder, for any purpose germane to the meeting, during
ordinary business hours, for a period of at least ten (10) days prior to the
meeting, either at a place within the city where the meeting is to be held,
which place shall be specified in the notice of the meeting, or, if not so
specified, at the place where the meeting is to be held.  The list shall also be
produced and kept at the time and place of the meeting during the whole time
thereof and may be inspected by any stockholder who is present at the meeting.

     Section 1.10:  Action by Written Consent of Stockholders.
     ------------   -----------------------------------------

     (a) Procedure.  Unless otherwise provided by the Certificate of
         ---------
Incorporation of the Corporation, and except as set forth in Section 1.8(b)
above, any action required or permitted to be taken at any annual or special
meeting of the stockholders may be taken without a meeting, without prior notice
and without a vote, if a consent or consents in writing, setting forth the
action so taken, shall be signed by the holders of outstanding stock having not
less than the number of votes that would be necessary to authorize or take such
action at a meeting at which all shares entitled to vote thereon were present
and voted; provided, however, that effective immediately after the closing of an
           --------  -------
underwritten public offering of shares of the Corporation's Common Stock
pursuant to a registration statement filed with and declared effective by the
Securities and Exchange Commission, any action required or permitted to be taken
by the Corporation's stockholders shall be taken only at a duly called annual or
special meeting of such stockholders, and the Corporation's stockholders shall
not be able to act by written consent.  For such period of time as written
stockholder consents are permitted, such consents shall bear the date of
signature of each stockholder who signs the consent and shall be delivered to
the Corporation by delivery to its registered office in the State of Delaware,
to its principal place of business or to any officer or agent of the Corporation
having custody of the book in which proceedings of meetings of stockholders are
recorded.  Delivery made to the Corporation's registered office shall be by hand
or by certified or registered mail, return receipt requested.  No written
consent shall be effective to take the action set forth therein unless, within
sixty (60) days of the earliest dated consent delivered to the Corporation in
the manner provided above, written consents signed by a sufficient number of
stockholders to take the action set forth therein are delivered to the
Corporation in the manner provided above.

     (b) Notice of Consent.  Prompt notice of the taking of corporate action by
         -----------------
stockholders without a meeting by less than unanimous written consent of the
stockholders shall be given to those stockholders who have not consented thereto
in writing and, in the case of a Certificate Action (as defined below), if the
Delaware General Corporation Law so requires, such notice shall be given prior
to filing of the certificate in question.  If the action which is consented to
requires the filing of a certificate under the Delaware General Corporation Law

                                      -4-
<PAGE>

(a "Certificate Action"), then if the Delaware General Corporation Law so
    ------------------
requires, the certificate so filed shall state that written stockholder consent
has been given in accordance with Section 228 of the Delaware General
Corporation Law and that written notice of the taking of corporate action by
stockholders without a meeting as described herein has been given as provided in
such section.

     Section 1.11:  Inspectors of Elections.
     ------------   -----------------------

     (a) Applicability.  Unless otherwise provided in the Corporation's
         -------------
Certificate of Incorporation or required by the Delaware General Corporation
Law, the following provisions of this Section 1.11 shall apply only if and when
the Corporation has a class of voting stock that is:  (i) listed on a national
securities exchange; (ii) authorized for quotation on an interdealer quotation
system of a registered national securities association; or (iii) held of record
by more than 2,000 stockholders; in all other cases, observance of the
provisions of this Section 1.11 shall be optional and at the discretion of the
Corporation.

     (b) Appointment.  The Corporation shall, in advance of any meeting of
         -----------
stockholders, appoint one or more inspectors of election to act at the meeting
and make a written report thereof.  The Corporation may designate one or more
persons as alternate inspectors to replace any inspector who fails to act.  If
no inspector or alternate is able to act at a meeting of stockholders, the
person presiding at the meeting shall appoint one or more inspectors to act at
the meeting.

     (c) Inspector's Oath.  Each inspector of election, before entering upon the
         ----------------
discharge of his duties, shall take and sign an oath faithfully to execute the
duties of inspector with strict impartiality and according to the best of his or
her ability.

     (d) Duties of Inspectors.  At a meeting of stockholders, the inspectors of
         --------------------
election shall (i) ascertain the number of shares outstanding and the voting
power of each share, (ii) determine the shares represented at a meeting and the
validity of proxies and ballots, (iii) count all votes and ballots, (iv)
determine and retain for a reasonable period of time a record of the disposition
of any challenges made to any determination by the inspectors and (v) certify
their determination of the number of shares represented at the meeting and their
count of all votes and ballots.  The inspectors may appoint or retain other
persons or entities to assist the inspectors in the performance of the duties of
the inspectors.

     (e) Opening and Closing of Polls.  The date and time of the opening and the
         ----------------------------
closing of the polls for each matter upon which the stockholders will vote at a
meeting shall be announced by the inspectors at the meeting.  No ballot, proxies
or votes, nor any revocations thereof or changes thereto, shall be accepted by
the inspectors after the closing of the polls unless the Court of Chancery upon
application by a stockholder shall determine otherwise.

     (f) Determinations.  In determining the validity and counting of proxies
         --------------
and ballots, the inspectors shall be limited to an examination of the proxies,
any envelopes submitted with those proxies, any information provided in
connection with proxies in accordance with Section

                                      -5-
<PAGE>

212(c)(2) of the Delaware General Corporation Law, the ballots and the regular
books and records of the Corporation, except that the inspectors may consider
                                      ------
other reliable information for the limited purpose of reconciling proxies and
ballots submitted by or on behalf of banks, brokers, their nominees or similar
persons that represent more votes than the holder of a proxy is authorized by
the record owner to cast or more votes than the stockholder holds of record. If
the inspectors consider other reliable information for the limited purpose
permitted herein, the inspectors at the time they make their certification of
their determinations pursuant to this Section 1.11 shall specify the precise
information considered by them, including the person or persons from whom they
obtained the information, when the information was obtained, the means by which
the information was obtained and the basis for the inspectors' belief that such
information is accurate and reliable.

     Section 1.12:  Notice of Stockholder Business; Nominations.
     ------------   -------------------------------------------

     (a) Annual Meeting of Stockholders.
         ------------------------------

         (i)   Nominations of persons for election to the Board of Directors and
the proposal of business to be considered by the stockholders shall be made at
an annual meeting of stockholders (A) pursuant to the Corporation's notice of
such meeting, (B) by or at the direction of the Board of Directors or (C) by any
stockholder of the Corporation who was a stockholder of record at the time of
giving of the notice provided for in this Section 1.12, who is entitled to vote
at such meeting and who complies with the notice procedures set forth in this
Section 1.12.

         (ii)  For nominations or other business to be properly brought before
an annual meeting by a stockholder pursuant to clause (C) of subparagraph (a)(i)
of this Section 1.12, the stockholder must have given timely notice thereof in
writing to the Secretary of the Corporation and such other business must
otherwise be a proper matter for stockholder action.  To be timely, a
stockholder's notice must be delivered to the Secretary at the principal
executive offices of the Corporation not later than the close of business on the
sixtieth (60th) day nor earlier than the close of business on the ninetieth
(90th) day prior to the first anniversary of the preceding year's annual
meeting; provided, however, that in the event that the date of the annual
         --------  -------
meeting is more than thirty (30) days before or more than sixty (60) days after
such anniversary date, notice by the stockholder, to be timely, must be so
delivered not earlier than the close of business on the ninetieth (90th) day
prior to such annual meeting and not later than the close of business on the
later of the sixtieth (60th) day prior to such annual meeting or the close of
business on the tenth (10th) day following the day on which public announcement
of the date of such meeting is first made by the Corporation.  Such
stockholder's notice shall set forth: (a) as to each person whom the stockholder
proposes to nominate for election or reelection as a director all information
relating to such person that is required to be disclosed in solicitations of
proxies for election of directors, or is otherwise required, in each case
pursuant to Regulation 14A under the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), including such person's written consent to being named in
      ------------
the proxy statement as a nominee and to serving as a director if elected; (b) as
to any other business that the stockholder proposes to bring before the meeting,
a brief description of the business desired to be brought before the meeting,
the reasons for conducting such business at the meeting and any material
interest in such business of such

                                      -6-
<PAGE>

stockholder and the beneficial owner, if any, on whose behalf the proposal is
made; and (c) as to the stockholder giving the notice and the beneficial owner,
if any, on whose behalf the nomination or proposal is made, (1) the name and
address of such stockholder, as they appear on the Corporation's books, and of
such beneficial owner and (2) the class and number of shares of the Corporation
that are owned beneficially and held of record by such stockholder and such
beneficial owner.

          (iii)  Notwithstanding anything in the second sentence of subparagraph
(a)(ii) of this Section 1.12 to the contrary, in the event that the number of
directors to be elected to the Board of Directors of the Corporation is
increased and there is no public announcement by the Corporation naming all of
the nominees for director or specifying the size of the increased board of
directors at least seventy (70) days prior to the first anniversary of the
preceding year's annual meeting (or, if the annual meeting is held more than
thirty (30) days before or sixty (60) days after such anniversary date, at least
seventy (70) days prior to such annual meeting), a stockholder's notice required
by this Section 1.12 shall also be considered timely, but only with respect to
nominees for any new positions created by such increase, if it shall be
delivered to the Secretary of the Corporation at the principal executive office
of the Corporation not later than the close of business on the tenth (10th) day
following the day on which such public announcement is first made by the
Corporation.

     (b)  Special Meetings of Stockholders.  Only such business shall be
          --------------------------------
conducted at a special meeting of stockholders as shall have been brought before
the meeting pursuant to the Corporation's notice of such meeting.  Nominations
of persons for election to the Board of Directors may be made at a special
meeting of stockholders at which directors are to be elected pursuant to the
Corporation's notice of such meeting (i) by or at the direction of the Board of
Directors or (ii) provided that the Board of Directors has determined that
directors shall be elected at such meeting, by any stockholder of the
Corporation who is a stockholder of record at the time of giving of notice of
the special meeting, who shall be entitled to vote at the meeting and who
complies with the notice procedures set forth in this Section 1.12.  In the
event the Corporation calls a special meeting of stockholders for the purpose of
electing one or more directors to the Board of Directors, any such stockholder
may nominate a person or persons (as the case may be), for election to such
position(s) as specified in the Corporation's notice of meeting, if the
stockholder's notice required by subparagraph (a)(ii) of this Section 1.12 shall
be delivered to the Secretary of the Corporation at the principal executive
offices of the Corporation not earlier than the ninetieth (90th) day prior to
such special meeting and not later than the close of business on the later of
the sixtieth (60th) day prior to such special meeting or the tenth (10th) day
following the day on which public announcement is first made of the date of the
special meeting and of the nominees proposed by the Board of Directors to be
elected at such meeting.

     (c)  General.
          -------

          (i) Only such persons who are nominated in accordance with the
procedures set forth in this Section 1.12 shall be eligible to serve as
directors and only such business shall be conducted at a meeting of stockholders
as shall have been brought before the meeting in accordance with the procedures
set forth in this Section 1.12.  Except as otherwise provided by

                                      -7-
<PAGE>

law or these Bylaws, the chairman of the meeting shall have the power and duty
to determine whether a nomination or any business proposed to be brought before
the meeting was made or proposed, as the case may be, in accordance with the
procedures set forth in this Section 1.12 and, if any proposed nomination or
business is not in compliance herewith, to declare that such defective proposal
or nomination shall be disregarded.

         (ii)  For purposes of this Section 1.12, the term "public announcement"
                                                            -------------------
shall mean disclosure in a press release reported by the Dow Jones News Service,
Associated Press or comparable national news service or in a document publicly
filed by the Corporation with the Securities and Exchange Commission pursuant to
sections 13, 14 or 15(d) of the Exchange Act.

         (iii) Notwithstanding the foregoing provisions of this Section 1.12,
a stockholder shall also comply with all applicable requirements of the Exchange
Act and the rules and regulations thereunder with respect to the matters set
forth herein.  Nothing in this Section 1.12 shall be deemed to affect any rights
of stockholders to request inclusion of proposals in the Corporation's proxy
statement pursuant to Rule 14a-8 under the Exchange Act.


                                  ARTICLE II

                              BOARD OF DIRECTORS

     Section 2.1:  Number; Qualifications.  The Board of Directors shall consist
     -----------   ----------------------
of one or more members.  The initial number of directors shall be six (6), and
thereafter shall be fixed from time to time by resolution of the Board of
Directors.  No decrease in the authorized number of directors constituting the
Board of Directors shall shorten the term of any incumbent director.  Directors
need not be stockholders of the Corporation.

     Section 2.2:  Election; Resignation; Removal; Vacancies.  Effective
     -----------   -----------------------------------------
immediately on such date, if ever, that the Corporation becomes a listed
corporation within the meaning of Section 301.5 of the California Corporations
Code, the directors shall be divided, with respect to the time for which they
severally hold office, into three classes designated as Class I, Class II and
Class III, respectively.  Directors shall be assigned to each class in
accordance with a resolution or resolutions adopted by the Board of Directors,
with the number of directors in each class to be divided as equally as
reasonably possible.  The term of office of the Class I directors shall expire
at the corporation's first annual meeting of stockholders following the closing
of the Initial Public Offering, the term of office of the Class II directors
shall expire at the corporation's second annual meeting of stockholders
following the closing of the Initial Public Offering, and the term of office of
the Class III directors shall expire at the corporation's third annual meeting
of stockholders following the closing of the Initial Public Offering.  At each
annual meeting of stockholders commencing with the first annual meeting of
stockholders following the closing of the Initial Public Offering, directors
elected to succeed those directors of the class whose terms then expire shall be
elected for a term of office to expire at the third succeeding annual meeting of
stockholders after their election.  Prior to the closing of the Initial Public
Offering, each director shall hold office until the next annual meeting of
stockholders and until such director's

                                      -8-
<PAGE>

successor is elected and qualified, or until such director's earlier death,
resignation or removal. Any director may resign at any time upon notice to the
Corporation given in writing or by electronic transmission. Subject to the
rights of the holders of any series of Preferred Stock, any vacancy occurring in
the Board of Directors for any cause, and any newly created directorship
resulting from any increase in the authorized number of directors, shall, unless
(i) the Board of Directors determines by resolution that any such vacancies or
newly created directorships shall be filled by the stockholders, or (ii) as
otherwise provided by law, be filled only by the affirmative vote of a majority
of the directors then in office, although less than a quorum, or by a sole
remaining director, and not by the stockholders. Notwithstanding the preceding
sentence, in any election of directors, the stockholders of the corporation
shall have the rights set forth in subdivisions (a), (b) and (c) of Section 708
of the California Corporations Code; provided, however, that the rights set
                                     --------  -------
forth in this sentence shall terminate to the extent permitted by applicable law
immediately on such date, if ever, that the Corporation becomes a listed
corporation within the meaning of Section 301.5 of the California Corporations
Code. Any director elected in accordance with the two preceding sentences shall
hold office for the remainder of the full term of the director for which the
vacancy was created or occurred. Subject to the rights of any holders of
Preferred Stock, any director or the entire Board of Directors may be removed,
with or without cause, by the holders of a majority of the shares then entitled
to vote at an election of directors; provided, however, that a director may not
                                     --------  -------
be removed without cause if the votes cast against removal of the director, or
not consenting in writing to the removal, would be sufficient to elect the
director if voted cumulatively (without regard to whether shares may otherwise
be voted cumulatively) at an election at which the same total number of votes
were cast (or, if the action is taken by written consent, all shares entitled to
vote were voted) and either the number of directors elected at the most recent
annual meeting of stockholders, or if greater, the number of directors for whom
removal is being sought, were then being elected.

     Section 2.3:  Regular Meetings.  Regular meetings of the Board of Directors
     -----------   ----------------
may be held at such places, within or without the State of Delaware, and at such
times as the Board of Directors may from time to time determine.  Notice of
regular meetings need not be given if the date, times and places thereof are
fixed by resolution of the Board of Directors.

     Section 2.4:  Special Meetings.  Special meetings of the Board of Directors
     -----------   ----------------
may be called by the Chairman of the Board, the President or a majority of the
members of the Board of Directors then in office and may be held at any time,
date or place, within or without the State of Delaware, as the person or persons
calling the meeting shall fix.  Notice of the time, date and place of such
meeting shall be given, orally, in writing or by electronic transmission
(including electronic mail), by the person or persons calling the meeting to all
directors at least four (4) days before the meeting if the notice is mailed, or
at least twenty-four (24) hours before the meeting if such notice is given by
telephone, hand-delivery, telegram, telex, mailgram, facsimile, electronic mail
or other means of electronic transmission.  Unless otherwise indicated in the
notice, any and all business may be transacted at a special meeting.

     Section 2.5:  Telephonic Meetings Permitted.  Members of the Board of
     -----------   -----------------------------
Directors, or any committee of the Board of Directors, may participate in a
meeting of the Board or such committee by means of conference telephone or
similar communications equipment by means of

                                      -9-
<PAGE>

which all persons participating in the meeting can hear each other, and
participation in a meeting pursuant to conference telephone or similar
communications equipment shall constitute presence in person at such meeting.

     Section 2.6:  Quorum; Vote Required for Action.  At all meetings of the
     -----------   --------------------------------
Board of Directors a majority of the total number of authorized directors shall
constitute a quorum for the transaction of business.  Except as otherwise
provided herein or in the Certificate of Incorporation of the Corporation, or
required by law, the vote of a majority of the directors present at a meeting at
which a quorum is present shall be the act of the Board of Directors.

     Section 2.7:  Organization.  Meetings of the Board of Directors shall be
     -----------   ------------
presided over by the Chairman of the Board, or in his or her absence by the
President, or in his or her absence by a chairman chosen at the meeting.  The
Secretary shall act as secretary of the meeting, but in his or her absence, the
chairman of the meeting may appoint any person to act as secretary of the
meeting.

     Section 2.8:  Written Action by Directors.  Any action required or
     -----------   ---------------------------
permitted to be taken at any meeting of the Board of Directors, or of any
committee thereof, may be taken without a meeting if all members of the Board of
Directors or such committee, as the case may be, consent thereto in writing or
by electronic transmission and the writing or writings or electronic
transmission or transmissions are filed with the minutes of proceedings of the
Board or committee, respectively.  Such filing shall be in paper form if the
minutes are maintained in paper form and shall be in electronic form if the
minutes are maintained in electronic form.

     Section 2.9:  Powers.  The Board of Directors may, except as otherwise
     ------------  ------
required by law or the Certificate of Incorporation of the Corporation, exercise
all such powers and do all such acts and things as may be exercised or done by
the Corporation.

     Section 2.10: Compensation of Directors.  Directors, as such, may receive,
     ------------  -------------------------
pursuant to a resolution of the Board of Directors, fees and other compensation
for their services as directors, including without limitation their services as
members of committees of the Board of Directors.


                                  ARTICLE III

                                  COMMITTEES

     Section 3.1:  Committees.  The Board of Directors may, by resolution passed
     -----------   ----------
by a majority of the whole Board of Directors, designate one or more committees,
each committee to consist of one or more of the directors of the Corporation.
The Board of Directors may designate one or more directors as alternate members
of any committee who may replace any absent or disqualified member at any
meeting of the committee.  In the absence or disqualification of a member of the
committee, the member or members thereof present at any meeting of such
committee who are not disqualified from voting, whether or not he, she or they
constitute a quorum, may unanimously appoint another member of the Board of
Directors to act at the

                                      -10-
<PAGE>

meeting in place of any such absent or disqualified member. Any such committee,
to the extent provided in a resolution of the Board of Directors, shall have and
may exercise all the powers and authority of the Board of Directors in the
management of the business and affairs of the Corporation and may authorize the
seal of the Corporation to be affixed to all papers that may require it; but no
such committee shall have the power or authority in reference to amending the
Certificate of Incorporation of the Corporation (except that a committee may, to
                                                 ------
the extent authorized in the resolution or resolutions providing for the
issuance of shares of stock adopted by the Board of Directors as provided in
subsection (a) of Section 151 of the Delaware General Corporation Law, fix the
designations and any of the preferences or rights of such shares relating to
dividends, redemption, dissolution, any distribution of assets of the
Corporation, or the conversion into, or the exchange of such shares for, shares
of any other class or classes or any other series of the same or any other class
or classes of stock of the Corporation, or fix the number of shares of any
series of stock or authorize the increase or decrease of the shares of any
series, adopting an agreement of merger or consolidation under Sections 251 or
252 of the Delaware General Corporation Law, recommending to the stockholders
the sale, lease or exchange of all or substantially all of the Corporation's
property and assets, recommending to the stockholders a dissolution of the
Corporation or a revocation of a dissolution, or amending these Bylaws; and
unless the resolution of the Board of Directors expressly so provides, no such
committee shall have the power or authority to declare a dividend, authorize the
issuance of stock or adopt a certificate of ownership and merger pursuant to
section 253 of the Delaware General Corporation Law.

     Section 3.2:  Committee Rules. Unless the Board of Directors otherwise
     -----------   ---------------
provides, each committee designated by the Board of Directors may make, alter
and repeal rules for the conduct of its business.  In the absence of such rules,
each committee shall conduct its business in the same manner as the Board of
Directors conducts its business pursuant to Article II of these Bylaws.

                                  ARTICLE IV

                                   OFFICERS

     Section 4.1:  Generally. The officers of the Corporation shall consist of
     -----------   ---------
a Chief Executive Officer and/or a President, one or more Vice Presidents, a
Secretary, a Treasurer and such other officers, including a Chairman of the
Board of Directors and/or Chief Financial Officer, as may from time to time be
appointed by the Board of Directors.  All officers shall be elected by the Board
of Directors; provided, however, that the Board of Directors may empower the
              --------  -------
Chief Executive Officer of the Corporation to appoint officers other than the
Chairman of the Board, the Chief Executive Officer, the President, the Chief
Financial Officer or the Treasurer.  Each officer shall hold office until his or
her successor is elected and qualified or until his or her earlier death,
resignation or removal.  Any number of offices may be held by the same person.
Any officer may resign at any time upon written notice to the Corporation.  Any
vacancy occurring in any office of the Corporation by death, resignation,
removal or otherwise may be filled by the Board of Directors.

                                      -11-
<PAGE>

     Section 4.2:  Chief Executive Officer. Subject to the control of the Board
     -----------   -----------------------
of Directors and such supervisory powers, if any, as may be given by the Board
of Directors, the powers and duties of the Chief Executive Officer of the
Corporation are:

     (a)  To act as the general manager and, subject to the control of the Board
of Directors, to have general supervision, direction and control of the business
and affairs of the Corporation;

     (b)  To preside at all meetings of the stockholders;

     (c)  To call meetings of the stockholders to be held at such times and,
subject to the limitations prescribed by law or by these Bylaws, at such places
as he or she shall deem proper; and

     (d)  To affix the signature of the Corporation to all deeds, conveyances,
mortgages, guarantees, leases, obligations, bonds, certificates and other papers
and instruments in writing which have been authorized by the Board of Directors
or which, in the judgment of the Chief Executive Officer, should be executed on
behalf of the Corporation; to sign certificates for shares of stock of the
Corporation; and, subject to the direction of the Board of Directors, to have
general charge of the property of the Corporation and to supervise and control
all officers, agents and employees of the Corporation.

The President shall be the Chief Executive Officer of the Corporation unless the
Board of Directors shall designate another officer to be the Chief Executive
Officer. If there is no President, and the Board of Directors has not designated
any other officer to be the Chief Executive Officer, then the Chairman of the
Board shall be the Chief Executive Officer.

     Section 4.3:  Chairman of the Board. The Chairman of the Board shall have
     -----------   ---------------------
the power to preside at all meetings of the Board of Directors and shall have
such other powers and duties as provided in these Bylaws and as the Board of
Directors may from time to time prescribe.

     Section 4.4:  President. The President shall be the Chief Executive Officer
     -----------   ---------
of the Corporation unless the Board of Directors shall have designated another
officer as the Chief Executive Officer of the Corporation. Subject to the
provisions of these Bylaws and to the direction of the Board of Directors, and
subject to the supervisory powers of the Chief Executive Officer (if the Chief
Executive Officer is an officer other than the President), and subject to such
supervisory powers and authority as may be given by the Board of Directors to
the Chairman of the Board and/or to any other officer, the President shall have
the responsibility for the general management and control of the business and
affairs of the Corporation and the general supervision and direction of all of
the officers, employees and agents of the Corporation (other than the Chief
Executive Officer, if the Chief Executive Officer is an officer other than the
President) and shall perform all duties and have all powers that are commonly
incident to the office of president or that are delegated to the President by
the Board of Directors.

                                      -12-
<PAGE>

     Section 4.5:  Vice President. Each Vice President shall have all such
     -----------   --------------
powers and duties as are commonly incident to the office of Vice President or
that are delegated to him or her by the Board of Directors or the Chief
Executive Officer.  A Vice President may be designated by the Board to perform
the duties and exercise the powers of the Chief Executive Officer in the event
of the Chief Executive Officer's absence or disability.

     Section 4.6:  Chief Financial Officer. Subject to the direction of the
     -----------   -----------------------
Board of Directors and the President, the Chief Financial Officer shall perform
all duties and have all powers that are commonly incident to the office of chief
financial officer.

     Section 4.7:  Treasurer. The Treasurer shall have custody of all monies and
     ------------  ---------
securities of the Corporation. The Treasurer shall make such disbursements of
the funds of the Corporation as are authorized and shall render from time to
time an account of all such transactions. The Treasurer shall also perform such
other duties and have such other powers as are commonly incident to the office
of a treasurer or as the Board of Directors or the President may from time to
time prescribe.

     Section 4.8:  Secretary. The Secretary shall issue or cause to be issued
     -----------   ---------
all authorized notices for, and shall keep or cause to be kept, minutes of all
meetings of the stockholders and the Board of Directors.  The Secretary shall
have charge of the corporate minute books and similar records and shall perform
such other duties and have such other powers as are commonly incident to the
office of secretary or as the Board of Directors or the President may from time
to time prescribe.

     Section 4.9:  Delegation of Authority. The Board of Directors may from time
     -----------   -----------------------
to time delegate the powers or duties of any officer to any other officers or
agents, notwithstanding any provision hereof.

     Section 4.10: Removal. Any officer of the Corporation shall serve at the
     ------------  -------
pleasure of the Board of Directors and may be removed at any time, with or
without cause, by the Board of Directors.  Such removal shall be without
prejudice to the contractual rights of such officer, if any, with the
Corporation.


                                   ARTICLE V

                                     STOCK

     Section 5.1:  Certificates. Every holder of stock shall be entitled to
     -----------   ------------
have a certificate signed by or in the name of the Corporation by the Chairman
or Vice-Chairman of the Board of Directors, or the President or a Vice
President, and by the Treasurer or an Assistant Treasurer, or the Secretary or
an Assistant Secretary, of the Corporation, certifying the number of shares
owned by such stockholder in the Corporation.  Any or all of the signatures on
the certificate may be a facsimile.

                                      -13-
<PAGE>

     Section 5.2:  Lost, Stolen or Destroyed Stock Certificates; Issuance of New
     -----------   -------------------------------------------------------------
Certificates. The Corporation may issue a new certificate of stock in the place
------------
of any certificate previously issued by it that is alleged to have been lost,
stolen or destroyed, and the Corporation may require the owner of the lost,
stolen or destroyed certificate, or such owner's legal representative, to agree
to indemnify the Corporation and/or to give the Corporation a bond sufficient to
indemnify it against any claim that may be made against it on account of the
alleged loss, theft or destruction of any such certificate or the issuance of
such new certificate.


     Section 5.3:  Other Regulations. The issue, transfer, conversion and
     -----------   -----------------
registration of stock certificates shall be governed by such other regulations
as the Board of Directors may establish.


                                  ARTICLE VI

                                INDEMNIFICATION


     Section 6.1:  Indemnification of Officers and Directors. Each person who
     -----------   -----------------------------------------
was or is made a party to, or is threatened to be made a party to, or is
involved in any action, suit or proceeding, whether civil, criminal,
administrative or investigative (a "proceeding"), by reason of the fact that he
                                    ----------
or she (or a person of whom he or she is the legal representative) is or was a
director or officer of the Corporation or a Reincorporated Predecessor (as
defined below) or is or was serving at the request of the Corporation or a
Reincorporated Predecessor (as defined below) as a director or officer of
another corporation or of a partnership, joint venture, trust or other
enterprise, including service with respect to employee benefit plans, shall be
indemnified and held harmless by the Corporation to the fullest extent permitted
by the Delaware General Corporation Law against all expenses, liability and loss
(including attorneys' fees, judgments, fines, ERISA excise taxes and penalties
and amounts paid or to be paid in settlement) reasonably incurred or suffered by
such person in connection therewith, and such indemnification shall continue as
to a person who has ceased to be a director or officer and shall inure to the
benefit of his or her heirs, executors and administrators; provided, however,
                                                           --------  -------
that the Corporation shall indemnify any such person seeking indemnity in
connection with a proceeding (or part thereof) initiated by such person only if
such proceeding (or part thereof) was authorized by the Board of Directors of
the Corporation; provided, further, that the Corporation shall not be required
                 --------  -------
to indemnify a person for amounts paid in settlement of a proceeding unless the
Corporation consents in writing to such a settlement (such consent not to be
unreasonably withheld).  As used herein, the term "Reincorporated Predecessor"
                                                   --------------------------
means a corporation that is merged with and into the Corporation in a statutory
merger where (a) the Corporation is the surviving corporation of such merger and
(b) the primary purpose of such merger is to change the corporate domicile of
the Reincorporated Predecessor, and shall include Interwoven, Inc., a California
corporation.

     Section 6.2:  Advance of Expenses. The Corporation shall pay all expenses
     -----------   -------------------
(including attorneys' fees) incurred by such a director or officer in defending
any such proceeding as such expenses are incurred in advance of its final
disposition; provided, however, that if the Delaware General Corporation Law
             --------  -------
then so requires, the payment of such expenses incurred by such a

                                      -14-
<PAGE>

director or officer in advance of the final disposition of such proceeding shall
be made only upon delivery to the Corporation of an undertaking, by or on behalf
of such director or officer, to repay all amounts so advanced if it should be
determined ultimately that such director or officer is not entitled to be
indemnified under this Article VI or otherwise; and provided, further, that the
                                                    --------  -------
Corporation shall not be required to advance any expenses to a person against
whom the Corporation directly brings a claim, in a proceeding, alleging that
such person has breached his or her duty of loyalty to the Corporation,
committed an act or omission not in good faith or that involves intentional
misconduct or a knowing violation of law, or derived an improper personal
benefit from a transaction.

     Section 6.3:  Non-Exclusivity of Rights. The rights conferred on any person
     ------------  -------------------------
in this Article VI shall not be exclusive of any other right that such person
may have or hereafter acquire under any statute, provision of the Certificate of
Incorporation of the Corporation, these Bylaws, agreement, vote or consent of
stockholders or disinterested directors, or otherwise. Additionally, nothing in
this Article VI shall limit the ability of the Corporation, in its discretion,
to indemnify or advance expenses to persons whom the Corporation is not
obligated to indemnify or advance expenses pursuant to this Article VI.

     Section 6.4:  Indemnification Contracts. The Board of Directors is
     -----------   -------------------------
authorized to cause the Corporation to enter into indemnification contracts with
any director, officer, employee or agent of the Corporation, or any person
serving at the request of the Corporation as a director, officer, employee or
agent of another corporation, partnership, joint venture, trust or other
enterprise, including employee benefit plans, providing indemnification and
related rights to such person.  Such rights may be greater than those provided
in this Article VI.

     Section 6.5:  Effect of Amendment. Any amendment, repeal or modification
     -----------   -------------------
of any provision of this Article VI shall be prospective only, and shall not
adversely affect any right or protection conferred on a person pursuant to this
Article VI and existing at the time of such amendment, repeal or modification.


                                  ARTICLE VII

                                    NOTICES

     Section 7.1:  Notice. (a) Except as otherwise specifically provided in
     -----------   ------
these Bylaws (including, without limitation, Section 7.1(b) below) or required
by law, all notices required to be given pursuant to these Bylaws shall be in
writing and may in every instance be effectively given by hand delivery
(including use of a delivery service) by depositing such notice in the mail,
postage prepaid, or by sending such notice by prepaid telegram, telex, overnight
express courier, mailgram or facsimile.  Any such notice shall be addressed to
the person to whom notice is to be given at such person's address as it appears
on the records of the Corporation.  The notice shall be deemed given (i) in the
case of hand delivery, when received by the person to whom notice is to be given
or by any person accepting such notice on behalf of such person, (ii) in the
case of delivery by mail, upon deposit in the mail, (iii) in the case of
delivery by overnight express

                                      -15-
<PAGE>

courier, on the first business day after such notice is dispatched, and (iv) in
the case of delivery via telegram, telex, mailgram or facsimile, when
dispatched.

     (b) Without limiting the manner by which notice otherwise may be given
effectively to stockholders, any notice to stockholders given by the Corporation
under any provision of the Delaware General Corporation Law, the Certificate of
Incorporation, or these Bylaws shall be effective if given by a form of
electronic transmission consented to by the stockholder to whom the notice is
given. Any such consent shall be revocable by the stockholder by written notice
to the Corporation. Any such consent shall be deemed revoked if (i) the
Corporation is unable to deliver by electronic transmission two consecutive
notices given by the Corporation in accordance with such consent and (ii) such
inability becomes known to the Secretary or an Assistant Secretary of the
Corporation or to the transfer agent, or other person responsible for the giving
of notice; provided, however, the inadvertent failure to treat such inability as
a revocation shall not invalidate any meeting or other action.  Notice given
pursuant to this Section 7.1(b) shall be deemed given: (i) if by facsimile
telecommunication, when directed to a number at which the stockholder has
consented to receive notice; (ii) if by electronic mail, when directed to an
electronic mail address at which the stockholder has consented to receive
notice; (iii) if by a posting on an electronic network together with separate
notice to the stockholder of such specific posting, upon the later of (A) such
posting and (B) the giving of such separate notice; and (iv) if by any other
form of electronic transmission, when directed to the stockholder.

     (c) An affidavit of the Secretary or an Assistant Secretary or of the
transfer agent or other agent of the Corporation that the notice has been given
in writing or by a form of electronic transmission shall, in the absence of
fraud, be prima facie evidence of the facts stated therein.

     Section 7.2:  Waiver of Notice. Whenever notice is required to be given
     -----------   ----------------
under any provision of these Bylaws, a written waiver of notice, signed by the
person entitled to notice, or waiver by electronic transmission by such person,
whether before or after the time stated therein, shall be deemed equivalent to
notice.  Attendance of a person at a meeting shall constitute a waiver of notice
of such meeting, except when the person attends a meeting for the express
purpose of objecting at the beginning of the meeting to the transaction of any
business because the meeting is not lawfully called or convened.  Neither the
business to be transacted at, nor the purpose of, any regular or special meeting
of the stockholders, directors or members of a committee of directors need be
specified in any written waiver of notice.

                                 ARTICLE VIII

                             INTERESTED DIRECTORS

     Section 8.1:  Interested Directors; Quorum. No contract or transaction
     -----------   ----------------------------
between the Corporation and one or more of its directors or officers, or between
the Corporation and any other corporation, partnership, association or other
organization in which one or more of its directors or officers are directors or
officers, or have a financial interest, shall be void or voidable solely for
this reason, or solely because the director or officer is present at or
participates in the meeting of the Board of Directors or committee thereof that
authorizes the contract or transaction, or solely because his, her or their
votes are counted for such purpose, if: (i) the

                                      -16-
<PAGE>

material facts as to his, her or their relationship or interest and as to the
contract or transaction are disclosed or are known to the Board of Directors or
the committee, and the Board of Directors or committee in good faith authorizes
the contract or transaction by the affirmative votes of a majority of the
disinterested directors, even though the disinterested directors be less than a
quorum; (ii) the material facts as to his, her or their relationship or interest
and as to the contract or transaction are disclosed or are known to the
stockholders entitled to vote thereon, and the contract or transaction is
specifically approved in good faith by vote of the stockholders; or (iii) the
contract or transaction is fair as to the Corporation as of the time it is
authorized, approved or ratified by the Board of Directors, a committee thereof
or the stockholders. Common or interested directors may be counted in
determining the presence of a quorum at a meeting of the Board of Directors or
of a committee which authorizes the contract or transaction.


                                  ARTICLE IX

                                 MISCELLANEOUS

     Section 9.1:  Fiscal Year. The fiscal year of the Corporation shall be
     -----------   -----------
determined by resolution of the Board of Directors.

     Section 9.2:  Seal. The Board of Directors may provide for a corporate
     -----------   ----
seal, which shall have the name of the Corporation inscribed thereon and shall
otherwise be in such form as may be approved from time to time by the Board of
Directors.

     Section 9.3:  Form of Records. Any records maintained by the Corporation in
     -----------   ---------------
the regular course of its business, including its stock ledger, books of account
and minute books, may be kept on, or be in the form of, magnetic tape,
diskettes, photographs, microphotographs or any other information storage
device, provided that the records so kept can be converted into clearly legible
        --------
form within a reasonable time.  The Corporation shall so convert any records so
kept upon the request of any person entitled to inspect the same.

     Section 9.4:  Reliance Upon Books and Records. A member of the Board of
     -----------   -------------------------------
Directors, or a member of any committee designated by the Board of Directors
shall, in the performance of his or her duties, be fully protected in relying in
good faith upon records of the Corporation and upon such information, opinions,
reports or statements presented to the Corporation by any of the Corporation's
officers or employees, or committees of the Board of Directors, or by any other
person as to matters the member reasonably believes are within such other
person's professional or expert competence and who has been selected with
reasonable care by or on behalf of the Corporation.

     Section 9.5:  Certificate of Incorporation Governs. In the event of any
     -----------   ------------------------------------
conflict between the provisions of the Corporation's Certificate of
Incorporation and Bylaws, the provisions of the Corporation's Certificate of
Incorporation shall govern.

                                      -17-
<PAGE>

     Section 9.6:  Severability. If any provision of these Bylaws shall be held
     -----------   ------------
to be invalid, illegal, unenforceable or in conflict with the provisions of the
Corporation's Certificate of Incorporation, then such provision shall
nonetheless be enforced to the maximum extent possible consistent with such
holding and the remaining provisions of these Bylaws (including, without
limitation, all portions of any section of these Bylaws containing any such
provision held to be invalid, illegal, unenforceable or in conflict with the
Corporation's Certificate of Incorporation that are not themselves invalid,
illegal, unenforceable or in conflict with the Corporation's Certificate of
Incorporation) shall remain in full force and effect.


                                   ARTICLE X

                                   AMENDMENT

     Section 10.1: Amendments.  Stockholders of the Corporation holding a
     ------------  ----------
majority of the Corporation's outstanding voting stock shall have the power to
adopt, amend or repeal Bylaws. To the extent provided in the Corporation's
Certificate of Incorporation, the Board of Directors of the Corporation shall
also have the power to adopt, amend or repeal Bylaws of the Corporation, except
insofar as Bylaws adopted by the stockholders shall otherwise provide.

                                      -18-
<PAGE>

                            CERTIFICATION OF BYLAWS
                                      OF
                               INTERWOVEN, INC.
                           (a Delaware corporation)



KNOW ALL BY THESE PRESENTS:



         I, Matthew P. Quilter, certify that I am Assistant Corporate Secretary
of Interwoven, Inc., a Delaware corporation (the "Company"), that I am duly
                                                  -------
authorized to make and deliver this certification and that the attached Bylaws
are a true and correct copy of the Amended and Restated Bylaws of the Company in
effect as of the date of this certificate.

Dated: December 7, 2000
       -------------------------


                                  /s/ Matthew P. Quilter
                                  --------------------------------------------
                                  Matthew P. Quilter, Assistant Secretary