Board of Directors

Definition

A governing body that theoretically oversees your startup but mostly just attends meetings and questions your decisions, led by the investors who own significant stakes.

Example Usage

Our board met today and spent 45 minutes debating whether we should be Series A or Series B companies—very helpful.

Origin

Corporate governance structure dating back centuries

Fun Fact

Most startup boards are 3-5 people, often more adversarial than collaborative

Source: Corporate governance terminology

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