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Glossary of Common Terms Section 10 Articles of Association – These form the constitution of the company. The Articles essentially govern the internal workings of the company and set out the rights which attach to shares in the capital of the company. Bible of Documents – This is simply a set of copies of all the signed documents for a transaction bound together or in a looseleaf folder or on CD, usually with an index. Business Angels – High net worth individuals, who are seeking early stage companies in which to invest with a view to making a large capital return. Business Model – The road map which gives an overview of the business proposition and how it will be achieved and sustained. Business Plan – A Business Plan typically includes financial projections and market information relating to a company and will be one of the principal documents which an Investor will rely on in deciding whether to invest in a company. Chairman or Chair – The director appointed by the board of directors to act as its chair(man). In practice it is a position of great influence. He/she will be involved in determining the agenda for each board meeting and ensure that the board operates in an efficient manner. In public companies the chair(man) is expected to be someone different from the Chief Executive/Managing Director and this is widely mirrored in spin-out companies. Chief Executive or CEO – This is a term for the director of the company who has overall day-to-day responsibility for the management of the company. Another term for the role would be Managing Director (MD). Chief Financial Officer or CFO – This is a term for the director who has responsibility for the financial management and reporting of the company, including the production of financial information such as management accounts and cash flow forecasts, which are required by investors. Another term for the role would be Finance Director. Class Rights – Specific rights attaching to a class of share (normally the class held by the Investor) providing specific contractual rights with regard to the ongoing management of the business. Company Secretary – The individual, who has various obligations relating to the duties of the company to file documents at Companies House. A private company does not need to have a company secretary. 48