Document background
The Advisory Board Agreement is essential for companies seeking to formalize relationships with external experts who provide strategic guidance without taking on executive roles. This document, governed by Austrian law, is particularly important for businesses looking to enhance their decision-making processes through external expertise while maintaining clear legal boundaries. The agreement covers crucial aspects such as appointment terms, compensation, confidentiality obligations, and liability provisions, all aligned with Austrian corporate governance requirements. It's commonly used when companies are entering new markets, scaling operations, or requiring specialized industry insight, and needs to be carefully structured to avoid creating an employment relationship while ensuring effective advisory services.
