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Do you conduct formal board meetings in a pre-seed / seed stage? If so, is it just a matter of writing something up / recording a call on Zoom etc?

Mia Scott avatar
Written by Mia Scott
Updated over 5 years ago

Depending on size of round and how much lead put in. Pre-seed investors putting in only $100k or so are not sitting on a bunch of boards as it would be too much work. Any legal items like stock options was done via written consent. So if your pre-seed is less than $1m or $1.5m, definitely avoid the work, just make sure you have written consents for board actions. 

Clerky is awesome for this to keep legal costs down assuming you’re a Delaware c-corp and are basically Orrick docs.  For stuff like meeting minutes, you don’t want to include every detail and should just be very high level minutes since that is company record that future investors and acquirers (who may be competitors) will look at during due diligence.

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