ClydeSnow Blog
BoardCounsel is committed to the legal representation of the Board of Directors. The scope of our expertise includes private companies, public companies, and non-profit entities.  

Is the JOBS Act Creating More Director Liability?

PwC just released a report on securities class action lawsuits.  The report, entitled “Small Companies, Big Targets: 2015 Securities Litigation Study,” can be found here. Some of the statistics about the relatively small size of IPO’s are very interesting: 

94% of all IPO’s in 2015 were valued at less than $500 million;50% of all IPO’s in 2015 were valued at less than $100 million; and25% of all IPO’s in 2015 were valued at less than $50 million.

 By comparison, the smallest company on the S&P 500 has a market value of about $7.5 billion. According to the World Bank, at the end of 2015 there were approximately 4,400 companies that trade on exchanges in the U.S. (the U.S. is not the country with the most, India has more), and another approximately 15,000 that trade over the counter. What is my point with these statistics? That there are a lot of public companies, and most of them are small.

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Four Steps to Building a Board of Directors

This is not an article on how to choose a director. I am not going to discuss whether or not to use a headhunter, or what skill set you want from each of your directors. I am not going to talk about the selection process at all; instead, I am talking about “building” your board of directors.

If built properly, a board of directors is the most valuable talent in your company. I am talking about value, not cost or expense, brand, reputation or public exposure, I am talking about a group of individuals that, dollar for dollar, provide the most value to your company.

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How to Run an Effective Board Meeting

Formal board meetings tend to start once a company has an outside investor, or an outside director, although they can start earlier. Efficiently run board meetings can help you attract new board members, or maintain the interest of existing board members, and help you get the most from those chosen to help structure the organization and oversee the implementation of its vision. The overarching principal throughout this post is time management and efficiency.

The process of running an effective board meeting can be split into three phases:

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SEC Commissioner Aguilar Speaks on the Important Work of Boards of Directors

Welcome to the BoardCounsel Blog.

Commissioner Luis A. Aguilar spoke at the 12th Annual Boardroom Summit and Peer Exchange on October 14, 2015. In his speech, Commissioner Aguilar focused on three themes of corporate governance:

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