Governance defines how decisions are made in your company. At the early stage, governance means: board composition, board meeting frequency, decision authority (what needs board approval), and advisory board structure.
Key Takeaways
- Board = founders + investors + independents.
- Never give up board control at Seed/Series A.
- Advisors provide expertise for 0.1-0.25% equity.
- Define decision authority clearly — prevents conflicts.