Board of directors

Also called: board, the board, director, directors, board seat, board member, board meeting

The group that a corporation's shareholders elect to oversee the company. The board makes the largest decisions, such as hiring or removing the CEO and approving a sale or a new round.

For example: After a Series A, a company's board has three seats: one founder, one investor and one independent member. The board votes to approve the annual budget.

Connects to 11

Fiduciary duty Concept
C-corp Concept
Lead investor Concept
Term sheet Concept
Nonprofit Concept
Techlahoma board Organization, nonprofit
Bylaws Concept
Leadership Tulsa Organization, nonprofit, program
Oklahoma Center for Nonprofits Organization, nonprofit
Get on Board Program
Interim executive Concept

This glossary is plain-language orientation, not legal or financial advice. Before you decide on a company structure, a contract, taxes or a fundraising deal, talk with a lawyer or an accountant.