For most high growth emerging technology startups, equity is cheaper than cash when it comes to compensating employees.

Par value. It’s a concept that many entrepreneurs see in their corporate documents, but few truly understand. What is par value? What does it mean when you see it in your documents?

I had a professor in law school who could spend days discussing all the nuances of fiduciary duties for directors in privately held corporations. We literally spent 8 weeks of a 10-week quarter primarily talking about all the ins and outs of this dry (yet important) subject.

If your startup is a corporation incorporated in Delaware or Washington, you must have a board of directors.