In the Start-Up Entrepreneur Series, I will be taking a deeper look into some of the most common questions early stage founders face in putting together and operating their new businesses.
Last week, we talked about the various documents that make up the governing “law” of a corporation (or LLC). This week, we’ll talk about the individuals that govern the actions of a corporation: the Board of Directors and Officers.
(Note that because of the inherent flexibility in the LLC structure, a discussion of an LLC’s management at a generalized level is not possible. Know that an LLC can be organized as we discuss below (and that many do in order to emulate the more understood corporate form), but that it can also be organized in myriad other, distinct ways.)