Entrepreneurs’ Code of Ethics Proposal to FWE

-----Original Message-----

From: Cynthia Typaldos [mailto:cynthia@typaldos.com]

Sent: Wednesday, December 11, 2002 2:33 PM

To: FWE Talk Bay Area

Subject: Entrepreneurs' Code of Ethics

Entrepreneurs' Code of Ethics

The recent set of articles in the SJMN got me thinking that this might be an opportunity for FWE to differentiate itself and its members.

What if part of being an FWE member meant agreement to a certain code of ethics? Along the lines of what doctors have in the Hippocratic Oath.

Ideally the Entrepreneurs' Code of Ethics (ECofE) would be as specific as possible with real measurements so that it has some teeth. This is very inline with the new requirement that CEOs personally vouch for their corporate financial statements.

Entrepreneurs' Code of Ethics (suggestions):

• Strive to build a profitable business (measured by...)
• Deliver real value to customers (measured by...)
• Make money for ALL of the investors, not just myself, my VC and angel investors, my Board of Directors, and my executive team, but also investors who participate even after the IPO (this could have some stock sale restrictions too so that it has some teeth)
• Consider success when I have built a viable long term company (measured by...)
• and so on

Perhaps some university ethics professors could help with this.

Why should FWE do this? It could be a differentiator for the FWE entrepreneurs when raising money, building a team, selling to customers, and certainly as part of an IPO. It also shows FWE in a leadership role instead of simply trying to catch up with the guys.

It makes sense too -- everyone is jumping on the ethics bandwagon and for good reason.

This is a brainstorming idea...could be a good idea, a bad idea, or a mediocre idea. But I believe it is an interesting idea.

Cynthia Typaldos

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cynthia@typaldos.com 408 867-8875 (office) 408 828-1370 (cell)