The most obvious value that is created by new ventures is a financial one, but that is not the sole result of these activities. In fact, residual values can take nonfinancial forms. There are two principal types of nonfinancial residual value that can be claimed by an entre- preneur: reputational and ethical. Reputational value is perhaps the most important of the two. Muhammad Yunus, for example, may be able to claim truthfully that he has never received a dividend from Grameen Bank. But, there is no doubt that he personally has claimed a dominant share of the reputational residual that the venture has created. In this regard, Yunus is no different from John D. Rock- efeller, Bill Gates, or Steve Jobs. Personal reputation—like a brand for a corporation—is a valuable privately held asset.1