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Also known as: board position, director seat

Board Seat

ConceptualLegalOperations

Definition

Board Seat: A board seat is a position on a company's board of directors. VCs typically require board seats in financing rounds. The board oversees company strategy, approves major decisions, and hires/fires the CEO. Board composition affects company governance significantly.

Example Usage

“Our Series A investor negotiated a board seat, making our board 2 founders, 1 VC, and 1 independent.”

Common Misconceptions

Only VCs get board seats. Some angels or strategic investors also negotiate seats.
More board seats is better for founders. Large boards can slow decision-making.
Board seats are permanent. Directors can be removed per company bylaws and investor agreements.

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