Growth of companies that facilitate the sale of unregistered shares, for example, granted to employees but long successful private companies raised a number of issues, including regulators, investors and company founders. This brief vignette sketches some of the advantages and disadvantages of alternative liquidity. "Hide
by G. Felda Hardymon, Josh Lerner, Ann Leamon Source: HBS 6 pages. Publication Date: October 24, 2011. Prod. #: 812070-PDF-ENG
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