An Advisor Contract is essential when engaging external expertise for specific business needs while maintaining clear boundaries of the professional relationship. This document, governed by Hong Kong law, establishes the framework for advisory services provided to companies operating in or from Hong Kong. The contract defines the scope of services, remuneration, and key obligations while ensuring compliance with Hong Kong regulations such as the Contract Ordinance, Personal Data (Privacy) Ordinance, and where applicable, the Securities and Futures Ordinance. It's particularly important in protecting intellectual property, maintaining confidentiality, and clearly establishing the advisor's independent contractor status. The Advisor Contract should be customized based on the nature of services, industry-specific requirements, and whether the advisor is an individual or a firm.
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1. Parties: Identifies the contracting parties - the company engaging the advisor and the advisor (individual or entity)
2. Background: Sets out the context of the agreement and the parties' intentions
3. Definitions: Defines key terms used throughout the agreement
4. Appointment and Term: Establishes the advisor's appointment, term, and renewal provisions
5. Services: Defines the scope of advisory services to be provided
6. Advisor's Obligations: Details the advisor's duties, responsibilities, and standard of service
7. Company's Obligations: Outlines the company's responsibilities and support to be provided
8. Fees and Payment: Specifies compensation, payment terms, and expenses
9. Independent Contractor Status: Clearly establishes the advisor's status as an independent contractor
10. Confidentiality: Protects confidential information and trade secrets
11. Intellectual Property: Addresses ownership and rights to work product and existing IP
12. Non-Competition and Non-Solicitation: Restricts competitive activities and solicitation of employees/clients
13. Termination: Sets out termination rights and procedures
14. Post-Termination Obligations: Specifies obligations surviving termination
15. General Provisions: Includes standard boilerplate clauses like notices, amendments, governing law
1. Compliance with Securities Laws: Required when advisor provides financial or securities-related advisory services
2. Data Protection: Necessary when advisor will handle personal data subject to PDPO
3. Insurance: Include when advisor needs to maintain specific insurance coverage
4. Key Person Provisions: Required when services must be performed by specific individuals
5. Anti-Corruption Compliance: Important for advisors working in sensitive areas or with government contacts
6. Force Majeure: Optional protection against unforeseen circumstances preventing performance
7. Service Levels: Include when specific performance metrics need to be maintained
8. Publicity Rights: When parties need to agree on public announcements or use of names/logos
1. Schedule 1 - Services Description: Detailed description of advisory services and deliverables
2. Schedule 2 - Fee Schedule: Detailed breakdown of fees, payment structure, and expenses
3. Schedule 3 - Key Personnel: List of approved individuals who will provide the services
4. Schedule 4 - Service Levels: Specific performance metrics and standards if applicable
5. Schedule 5 - Company Policies: Relevant company policies advisor must comply with
6. Appendix A - Required Reports: Format and content of required advisory reports
7. Appendix B - Compliance Requirements: Specific regulatory or compliance requirements
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