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VC Representation on Boards - Reconsidering the Value of Care-Taker Directors

by Marc Babinski, Partner, Borden Ladner Gervais LLP, 5/13/2008

When I meet Venture Capitalists on the street they are either running to a meeting with potential limited partners or on their way to a board meeting of one of their portfolio companies.

Perhaps in response to the memory of the harried Venture Capitalist on the run to meetings, I ask myself if his time would perhaps have been better spent by doing something other than attending a board meeting attended by other Venture Capitalists and the senior management of his portfolio companies.

To ask the question may be slightly heretical, especially from a lawyer, since the practice of requiring board representation on portfolio companies is ubiquitous and justified, in part, by the legal requirements of good corporate governance.

But Marc Babinski, Partner, Borden Ladner Gervais LLP asks the hard questions nonetheless, and considers whether investors should Reconsidering the Value of Care-Taker Directors

Read more in this week's buzz: VC Representation on Boards - Reconsidering the Value of Care-Taker Directors.

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