Creating systems, teams, and processes to ensure compliance is the bread and butter by which corporate boards meet their fiduciary duties. Long-standing institutional corporations have largely embedded these imperatives into their DNA to protect against liability and have built internal legal teams to ensure continued compliance. Conversely, meeting fiduciary duties from a corporate governance perspective and financial perspective often appears murky in the expanding arena of hypergrowth venture-backed start-up companies. Successful start-up founders are typically idea-driven individuals who take countless steps to build their businesses from an operational standpoint. As a matter of necessity, company founders do typically manage to get corporate formation documents in place early on to attract or satisfy potential early investors.
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