At last week’s CIBC Presents Entrepreneurship 101, we heard Mr. Craig Thorburn speak about the different roles and responsibilities of shareholders, boards of directors, advisory boards and company officers. These may well be fulfilled the same person(s) at the start-up stage of a company, but once external investors come on board they typically insist on a more formal board structure to guide the company.
This often leads to a difficult question – who gets how many seats on the board? The founders wish to ensure that they continue to have a strong say at this level – but the investors have a similar need. Both parties, and the company, would likely benefit from external, independant input. What do you think is the ideal size for an early stage board, and who gets the seats?
Downloads and Resources
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