Document background
The Advisory Board Member Agreement is essential for companies operating in Canada that wish to formally engage external experts in an advisory capacity. This document is typically used when a company seeks to establish an advisory board to provide strategic guidance, industry expertise, or specialized knowledge without the formal fiduciary duties of a corporate director. The agreement encompasses key provisions required under Canadian law, including confidentiality obligations, intellectual property protection, and clear delineation of the advisory role. It's particularly relevant for growing companies, startups seeking expertise, and established organizations looking to expand their strategic capabilities through external advisors. The document helps prevent future disputes by clearly defining the relationship, expectations, and compensation structure while ensuring compliance with relevant Canadian federal and provincial regulations.
