Note: This article is part of Morningstar's 2018 Guide to IRAs special report. A version of this article appeared on Oct. 10, 2016. At first blush, the term "pro rata" sounds like the worst type of ...

Whenever pro-rata rights are involved, you can always smell some drama. When a company raises a financing round, new and old investors often battle it out for the largest stake they can get. While ...

Lee Edwards, partner at Root VC, has a saying at his firm that “pro rata rights are earned, not given.” That may be a bit of a stretch since pro rata refers to a term that VCs put in their term sheets ...