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  • April 2019
  • Technical Note
  • HBS Case Collection

A Note on Boards in VC-Backed Ventures

By: Shikhar Ghosh, Ramana Nanda, Suraj Srinivasan and Terrence Shu
  • Format:Print
  • | Language:English
  • | Pages:14
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Abstract

What is the value of a Board, and why does a company need one? The note documents the formal role of a Board of Directors as going beyond simply acting as legal representation of corporate ownership. Moreover, this role changes as the company moves through different stages of growth. The note discusses the structure and composition of a Board (Board Committees, Board Chair and Board Observers), along with best practices for managing the Board process (including what happens before and after each meeting, as well as the meeting itself). Entrepreneurs need to set foundations for Board composition, structure, compensation, and terms, early on in the company’s journey. Many of the qualitative insights in the note are collated from the collective experience of the authors.

Keywords

Founders; Business Startup; Board; Board Of Directors; Business Startups; Governing and Advisory Boards; Venture Capital; Entrepreneurship

Citation

Ghosh, Shikhar, Ramana Nanda, Suraj Srinivasan, and Terrence Shu. "A Note on Boards in VC-Backed Ventures." Harvard Business School Technical Note 819-128, April 2019.
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About The Authors

Shikhar Ghosh

Entrepreneurial Management
→More Publications

Ramana Nanda

Entrepreneurial Management
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Suraj Srinivasan

Accounting and Management
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More from the Authors
  • How the Best Chief Data Officers Create Value By: Suraj Srinivasan and Robin Seibert
  • Ava Labs: Structure and Challenges of Establishing a Blockchain By: Shikhar Ghosh and Liang Wu
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