Pascal Levensohn has been the ringleader of a group of 22 Venture Capitalists who have just released a white paper titled "A Simple Guide to the Basic Responsibilities of VC-Backed Company Directors” The white paper can be downloaded here.
Since its release last week there has been some commentary on this project which Pascal has responded to on his blog. It is interesting, useful, and thought provoking information for anyone that serves on the board of a VC-backed company.
Posted in: Board of Directors | Posted by: Brad Feld
Version 2.0 of "A Simple Guide..." is in the works. We have added a section on internal controls that maps the level of internal controls you should have to your stage o development-- for example, a common overlooked internal control for early stage companies is the segregation of duties when it comes to approving cash transfers during the period of time when the company is purely a development organization. Stay tuned for more previews and for the release of A Simple Guide 2.0 in September.