What is a Board of Directors?
A board (of directors) is the ‘legislative’ branch of a startup, which discusses overall policies concerning the corporate management such as: issuing stocks, handling ESOP or allowing fundraising rounds regularly. Every board member has their own board seat, with the respective voting power – depending on how many shares they own in said company.
Legally every startup is required to have a board right after its official foundation. The board doesn’t have to be complicated, it can include just one person, for example, the founder.