No, you don’t have to give a board seat to your new investor if you don’t want to and there are alternatives that you can use to avoid giving away a board seat.
All posts in Boards and Advisors
Board observers: What startup founders need to know
More venture capitals and angels prefer to take up a board observer status as opposed to a usual board seat in a company. Read more to know the pros and cons of a board observer status.
How and when to appoint an adviser for your startup
In my experience as a startup lawyer, I have seen how a startup can grow faster with a good advisor onboard. An advisor can serve as a strategic resource to help you guide your business especially when you’re just starting out as an early stage company. Difference between an advisory board or a formal board…