Buzz Archive:
Who Controls: Me Or Them?

by Joseph W. Bartlett, Of Counsel, Sullivan & Worcester LLP and Founder of VC Experts.com, 11/25/2009

To understand that cohort of issues which has to do with the control of a startup, some background is in order. Thus, in a mature business corporation, it has been understood, at least since Berle and Means's seminal work, that non-management purchasers of stock in public companies are passive investors. If they don't like the way the company is being run, their remedy (absent some actionable legal wrong) is to sell their shares.

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