The Business Advisor Agreement serves as a crucial document for companies seeking external expertise and guidance for their business operations. This agreement, governed by U.S. law, outlines the professional relationship between a business advisor and the client company, detailing responsibilities, compensation, confidentiality requirements, and liability provisions. It's particularly important for protecting both parties' interests while ensuring clarity in the scope of services and deliverables. The agreement addresses key legal considerations including intellectual property rights, non-compete provisions, and independent contractor status.
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Key Requirements PROMPT example:
Business Advisor Agreement
"I need a Business Advisor Agreement for hiring a strategic consultant to help with our company's expansion into Asian markets, starting March 2025, with strong confidentiality and non-compete provisions as we'll be sharing sensitive market data."
1. Parties: Identifies and defines the parties entering into the agreement - the business advisor and the client company
2. Background/Recitals: Sets out the context and purpose of the agreement
3. Definitions: Defines key terms used throughout the agreement
4. Scope of Services: Details the specific advisory services to be provided
5. Term and Termination: Specifies duration of the agreement and termination conditions
6. Compensation: Details fees, payment terms, and reimbursement of expenses
7. Confidentiality: Obligations regarding confidential information
8. Independent Contractor Status: Clarifies the relationship between parties
1. Non-Compete: Restrictions on competitive activities during and after the engagement
2. Intellectual Property Rights: Ownership and rights to work product created during the engagement
3. Insurance Requirements: Specific insurance coverage requirements for the advisor
4. Performance Metrics: Specific targets or KPIs for measuring advisor performance
1. Schedule A - Services Description: Detailed outline of services to be provided by the advisor
2. Schedule B - Fee Schedule: Detailed breakdown of fees and payment terms
3. Schedule C - Key Personnel: List of key individuals involved in providing advisory services
4. Appendix 1 - Confidentiality Agreement: Detailed confidentiality terms and conditions
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