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Your startup’s board members, the board directors, have a fiduciary duty to the company’s shareholders and they make important decisions, such as whether to sell the company. Generally, founders will be the first board directors and lead investors may get board seats during each funding round.
You also may want to appoint independent board directors who are neither founders nor investors. Consider the current board directors’ strengths and how the independents can fill in gaps to complement the board’s makeup.
Working with your board can be important for managing and growing your startup — they’re there to offer you guidance. But effective and ongoing communication is important for success.
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