Grundfest: Undocumented board actions are hard to prove in court
Joe Grundfest · a16z Podcast | 'The Most Boring Yet Valuable' 20 Minutes, All About Board Minutes · Jan 2, 2019 · at 3:05
Joe Grundfest, Stanford Law professor and former SEC commissioner, explains why maintaining defensive corporate board records is critical for directors.
0:00 / 0:09exact quote · 9.7s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“The rule of thumb once you get into court is, if it's not in the minutes, you're going to have to work really hard to demonstrate that it actually happened.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Joe Grundfest
Grundfest: Board minute detail level should lie between haiku and Tolstoy
“Well, the answer usually lies somewhere between haiku and Tolstoy.”
Grundfest: Draft board minutes to survive attacks by conspiracy theorists
“Create the record you want, That can survive an attack by a conspiracy theorist.”
Grundfest: Proper board minutes serve as free litigation insurance
“If you pay attention to what we're going to be talking about today, you may actually get some of the most valuable litigation insurance you can buy for essentially free. This is as close to free legal insurance as you're going to get.”