Board minutes are a summary of what occurred at a meeting of the Board of Directors.
Many thanks to Al Browne for his contributions to this article. Whether you are a founder or venture investor sitting on the board of a portfolio company, you have fiduciary duties to…
Although the executive officers (such as the Chief Executive Officer and Chief Financial Officer) generally handle the day-to-day operations of the business, the board of directors is ultimately responsible for…
One of the best ways to assure your investors that your company is operating effectively is to have good governance practices in place. A well-functioning Board of Directors having regular meetings…
Nonprofit founders are often surprised to learn that the United States Internal Revenue Service (the IRS) requires nonprofits obtain an Employer Identification Number (also called an EIN), even if the…
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A person owes another fiduciary duties when that person has control over a financial interest of the other. For example, corporate directors owe fiduciary duties to that corporation’s stockholders.
Ready for show time? Is your story compelling enough to interest venture capital investors? Some businesses, even if they succeed, simply will not get large enough to deliver the kind…
It’s inevitable that you will have to share some confidential information with potential buyers during the course of a sale process. Anyone thinking about buying your business will want to…
You and your co-founders are getting your company off the ground. Everyone is excited and in perfect alignment. You have many people to be appreciative of as you launch your…
Entrepreneurs are used to juggling many roles on their way to building a great company –you’re a founder, employee, director and officer. When you’re wearing the director “hat” for a…
Why Do You Need a Minute Book? Whether you have organized your corporation in Delaware, California or any other state, your existence as a corporate entity begins with the filing…
Corporations are distinct legal entities owned by their stockholders. Unlike a partnership, a corporation may be owned by a single person who may (but need not) be the corporation’s sole…
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