The Devil is in the Details

When incorporating a business, setting up the bylaws seems less important than getting revenue operations going.

But an interesting article in today's Advisen Front Page News Europe notes how a bit of forethought early on could pay off in terms of D&O coverage:

Not honoring the laws of the business type they've chosen is the "main mistake"
entrepreneurs make, she said. Common mistakes include ignoring bylaws, not
having a corporate board and using business assets for personal objectives.

The "she" is Nancy Rapoport, the Gordon & Silver Ltd. Professor of Law at the Boyd School of Law at the University of Nevada, Las Vegas.

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