Match the following structures to the stage you would typically find the structures.

May not have a Board of

Directors, only an Advisory

Board or a single Advisor

Often an annual family

assembly and a few family

members on the Board of

Directors $($but potentially

not all family$)$

Typically detailed policies

Owner Founder Stage

re: family employment,

Cousin Consortium Stage

dividends, shareholder

agreements are well

documented $($or at least

they should be$!)$