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Your board should protect you!

Berkonomics

All other board functions are secondary. Even venture capitalists who sit on boards where they have significant investments often forget this point. Actually, there are two legal duties of board members. Second is the duty of loyalty… …Loyalty to the corporate person, not to the shareholders who elected the board member.

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The Pre-Board Board: How to Create Accountability Before You Give Away a Board Seat

This is going to be BIG.

Typically, investors don’t take a board seat until you raise your first equity round—which means that it could be *years* before you have a real board meeting: A year of nights/weekends work researching, prototyping, and fundraising. The structure of the meeting should follow some kind of document. I’ll make it simple.

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Should board members be elected “for life?”

Berkonomics

No board member should be grandfathered, guaranteed a board seat forever. We have investigated the restrictions imposed by investment documents and the obvious need to keep continuity on the board with the retention of the CEO position at the very least. How about non-profit boards? And that’s not good.

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Fight for balance on your board!

Berkonomics

Picking up where we left off… In my last insight, I described the CEO who stacked the board with two friends, making a majority for control purposes and relegating the investor representatives to insignificance. If the CEO does not fight for balance of the board, outside board members must fight for this to protect the corporation.

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The Pros and Cons of Rando Rich People Investing in Your Startup

This is going to be BIG.

These are people that didn’t make their money through a tech startup or startup investing. Not only will it cost you multiples more than average in legal fees to get this deal done, but you might wind up with some gnarly documents with terms that prevent other investors from wanting to come in. I’m not talking about active angels.

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Getting serious about Series B: 3 documents that will help founders control the narrative

TechCrunch

He serves on the boards of OCEANIX, Atom Computing, Conscious Cultures and MycoWorks. I have spent most of the last two years investing at Series B and helping portfolio companies prepare for this first “growth-y” round. An elegant strategy memo is your most important document. Gaetano Crupi. Contributor.

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Klarity lands $18M to read scores of documents so you don’t have to

TechCrunch

Reviewing repetitive documents is, well, repetitive, but Klarity believes people don’t have to do all of that and is building an artificial intelligence tool, targeting finance and accounting departments, that turns documents into structured data. Document automation is not a new concept. Image Credits: Klarity.