Case | HBS Case Collection | July 2002 (Revised August 2003)

EXP Systems

by Malcolm S. Salter and Alison Berkley Wagonfeld


Discusses selecting investors and avoiding board-level conflicts of interest in start-ups. Using the "term sheet" in third-round financing as a negotiation over future governance and control rights. A rewritten version of an earlier case.

Keywords: Conflict of Interests; Governance Controls; Governing and Advisory Boards; Business Startups; Management Teams;


Salter, Malcolm S., and Alison Berkley Wagonfeld. "EXP Systems." Harvard Business School Case 903-022, July 2002. (Revised August 2003.)