Though now, most VC board members would at least request reimbursement of travel expenses.

That’s a business question. If the company doesn’t have the cash, then probably no consulting fee arrangement…

This is very helpful. Who pays the consulting fee in a private LLC if the company does not have cash to afford consultants? I guess logic dictates that equity board members come first.

Being an entrepreneur who enjoys early stage startups, I have several companies in late pre-flight. I am considering forming an LLC-s Delaware corp to “house” these start-ups until they warrant separate tax structures. My question is this: what corporate structure do you advise and where should I incorporate?

Thanks again for sharing your wisdom and expertise. I am learning a lot from your blogs.

Michael