What startups need to consider before forming a board of directors

​A board of directors helps oversee the activities of a company or organization. Publicly held companies have to have a board of directors, while private companies don't.That begs the question for many startups as to whether or not they need a board of directors, and if so, when? There are many reasons this is a good idea for most startups. So, for the purposes of this article, let's say you do need one.In this case, we look at what startups need to consider before forming a board of directors.B...
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Don’t give away your board seats

 Every company needs to have a board of directors. Although it may be just you and your co-founders to start with, you'll add more people as the company grows. And at each funding round, a seat on the board for the lead investor is often included in the terms. Given that the board is responsible for making major decisions and wields considerable power over the running of the company, you need to consider very carefully who gets a seat. Here, Steve Blank shares the advice he gave a group of ...
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