So your startup has turned out fine, your struggle has just started because alot of people get kicked off the control of their company.


So how do you maintain control of your company, the company you built from the scratch?

The rule is simple

Many people ask me, how can I keep being in charge of my company.

There are 3 simple ways for you to be in charge of your company, except for sectors with tenure regulations for the CEO.


1. Control the Board of Director: You can be the CEO, but you are answerable to the Board of Directors. The truth is that they can remove you as the CEO with a simple majority vote. If there are 5 spot on the board, control the majority.



2. Keep your eyes on the shares: Don't joke with your shares in quantity and value. There are different classes of shares, thread carefully with things such as shares dilution. This is not easy especially for businesses who raises funds from investors. You will need your Lawyers for all these.

That you have a large control of shares does not actually mean that your shares give you control of the affairs of the company in the true sense of things, because their are different classes of shares and the values attached to them are different.



3. Keep your friends and enemies close but keep your Lawyers closer and on speed dial. A little fine print on a contract can undo you, quite easily. Even more, there are certain terms that need not be included in the contravt not contained in the contract, which are regarded as customs of trade. They have been observed for years and years in your line of business, these are also dangerous.




Opatola Victor Esq
adeopatola@gmail.com
09041815408

easier said than done
Talk is cheap