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Boards for a New Venture: Putting Togeth...

Sarasvathy, Saras ...

Technical Note

Boards for a New Venture: Putting Together Boards and Working with Them

Sarasvathy, Saras D.

ENT-0071 | Published May 14, 2009 | 6 pages Technical Note

Collection: Darden School of Business

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This note teaches students at all levels how to establish a board for a new venture, explaining why it is necessary, how to attract the right members, how to compensate them, how to distinguish advisors versus directors, and how to deal with board conflicts.

1. Consider desired attributes for a board of directors. 2. Distinguish between formal directors and informal advisers. 3. Determine factors to consider when establishing board compensation.