Entrepreneur Corner: Reinventing the boardroom and important lessons learned

Here’s the latest from VentureBeat’s Entrepreneur Corner.

Cut-and-pasting legal language vs. hiring a lawyer – If you can’t afford a lawyer, it might be tempting to grab terms of service or a privacy policy from another site and claim them as your own – but doing so can open you up to a slew of legal problems, says attorney Curtis Smolar.

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5 lessons learned from a serial entrepreneur – It’s easy to get caught up in the excitement of a startup and ignore advice, but serial entrepreneur Farid Naib has learned the dangers of that kind of action. Naib gives five quick lessons to help business owners prosper as they grow.

It’s time to reinvent the boardroom – While startups have evolved tremendously over the past 20 years, the board of directors running them haven’t. Serial entrepreneur Steve Blank points out the problems with this in the first of a two-part series.

3 questions every new CEO needs to consider – While you’ve likely read plenty about creating a solid business plan or luring VCs, Christopher Parks, CEO and founder of change:healthcare, notes that too few would-be CEOs assess their own mental state before taking the job – and crumble when the pressure gets to be too much. Here, he offers three questions to ask yourself before signing on.

The essential qualities of passion – Passion for your company and your product doesn’t guarantee success – but lacking it is an express road to certain failure, says Mark Forchette, CEO at OptiMedica in this Entrepreneur Thought Leader Lecture given at Stanford University.