Episode 4: Rights and responsibilities of directors and start-ups

What duties does UK law place on founder-directors? How do these duties differ from founder-employees and what are the day to day implications?

 

We also:   

 

• Look at some of the insurance products available to start-ups, including directors and officers insurance and key-person insurance (also known as, "Just-in-case-Tim-falls-under-a-bus" insurance.

 

• Address what might be the appropriate time in a start-up's growth cycle to put these insurances in place (or when they might be required, for example by investors or non-founder directors).

 

• Answer some listener questions (please do submit any questions through the link in this description!), including:

            • appropriate legal advice startups should consider for critical decisions early in the journey, and what a founder should be considering when taking them; and

            • what are a company's reporting requirements to shareholders, and Tim gives us some insight on his reporting structure to his shareholders.

 

Link here to the Companies Act provisions on General Duties of Directors, and here to the Companies House guidance on these duties.

Got a question? Submit it here!