Follow-on question: do the shareholders usually have the power to redraw the board? Say you own 60% of the company but only 1 of 3 board seats -- could you overrule the board members or fire them if you felt it necessary? Does the board ultimately answer to the shareholders?
I imagine that this equity and board seat distribution could easily happen with a solo founder.
I imagine that this equity and board seat distribution could easily happen with a solo founder.