“One size fits all” is a notion that definitely does not apply when it comes to defining corporate governance for startups, according to Evan Epstein, Executive Director of the Center for Business Law at UC Hastings and an expert on corporate governance issues.
The executive presented the webinar “Gobierno Corporativo para Startups: La Experiencia de Silicon Valley” (“Corporate Governance for Startups: The Experience of Silicon Valley”), co-hosted by the Santiago Center and AmCham Chile, moderated by Cristobal Silva (CBS'17) and hosted by Georges de Bourguignon (CBS/SIPA'17), president of the CBS Alumni Club of Chile.
Unlike publicly-listed companies, there is no separation between control and ownership of startups, he said. On the other hand, the boards at startups are usually focused on the mission of growing the business out, while in established companies the board has more of a regulatory or compliance function.
Epstein has advised founders, executives, directors and investors for more than 15 years, both in Silicon Valley and globally. He was previously Executive Director of the Arthur and Toni Rembe Rock Center for Corporate Governance, a joint initiative between the Stanford University Schools of Law and Business, and has served as a professor at Universidad Católica’s Law School.