Some time ago, I wrote a Five-minute General Counsel post on how to approach the question of whether a social enterprise fits a founder’s needs. In that post, I focused on the issue of whether the concept of fiduciary duties and the prudent investor standard were as anathema to “social” goals as some people think.…
Read MoreThe HBR recently shared the results of a study showing that an increase in the amount of flattery received by a CEO disproportionately increased the likelihood of the CEO being fired. “You look mahvelous” Flattering the CEO increases chance of getting [him] fired http://t.co/2odFtkwBW3 — rickcolosimo (@rickcolosimo) November 5, 2013 That link is dead: look…
Read MoreOne side effect of the growing use of LLCs in startup companies is the general unfamiliarity of most first-time founders with the quirky side-effects of partnership taxation of LLCs. The most annoying of these for companies is usually that members, no matter how small their equity stake, can not be employees of the LLC. This…
Read MoreYou’ve read my post on the benefits of having a board in your closely held company, and you’re convinced. You’re ready to move forward but stuck at step 2. How do you go about putting a board together? For most companies, major investors push for governance rights and the structure of the board becomes an…
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