I think there might be a disclosure requirement or perhaps it only matters if they take board seats or what kind of access they have to internal matters. At la

I think there might be a disclosure requirement or perhaps it only matters if they take board seats or what kind of access they have to internal matters. At latter stages it might arise if a company pivots into another space. See this on how Andreessen-Horowitz dealt with a conflict (Instagram v. PicPlz): http://bhorowitz.com/2012/04/22/instagram/ http://bhorowitz.com/2012/04/22/instagram/