Board

Most companies will have either a Board of Advisers or a Board of Directors, though smaller firms will not.  You will be able to add either type. Not only can these folks advise, they can be important to you because they can add their network of potential investors, corporate contacts, and influence. 

The importance of a Board of Advisers is that they are there to help the executive management team or owner.  As advisers, they are not subject to the same legal responsibilities as a Board of Directors.  Consequently, they are generally easier to attract.

Board of Directors are generally made-up from investors connected with the firm.  Larger corporations are able to attract "outside members" from other industries as experts in their respective fields. 

Insurance coverage such as Directors & Officer's Liability protects these members from shareholder or other lawsuits, if they should arise.  Because of this, many persons do not wish to serve on Boards of Directors, as they once did.

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