How can this be practically used? Start a startup, get a board of directors? How many startups have a board of directors? If you already have 500K or 1M lying around, you can get the EB5 visa anyway which does away with this nonsense of requiring a board of directors that control you and all the restrictions that comes with H1B and all the advanced qualifications for EB2 that are not relaxed for entrepreneurs.
Every corporation has a board of directors. You're right, if you have the cash to go this alone, you're golden. If you don't then you'll be looking for cofounders and investors and will like have < 50% equity (and voting rights). i.e. everything is just as it should be and you can be controlled/fired/whatever just like any other founder in this situation.
