youtor.org
Why Founders Should Draft Organizational Documents
>> YOUR LINK HERE: ___ http://youtube.com/watch?v=QEq-7T2b55E
Minority members shouldn’t be in charge of drafting your organizational documents. • It’s not uncommon for me to see a founder abdicate drafting the operating agreement or shareholder agreement to members holding a minority interest. • They think this will make the process easier and cut costs. • In many cases it’s the opposite effect. • Those members often write in greater voting rights and protections for themselves that the founder must then walk backwards. This could cause renegotiation and sometimes even cause potential investors to back out. • As a founder, holding the pen can be a powerful and strategic move. • #businessowner #investor #sellingequity
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