Law360, New York (January 23, 2018, 1:20 PM EST) -- Advisory board agreements are like orphaned children — overlooked and ignored — and clients frequently sign them without your review. Yet, they sometimes contain provisions that significantly restrict the signer and even make breaching the agreement almost inevitable.
The Devil Is in the Details
Successful individuals tend to be invited to serve on advisory boards of growing companies. There is rarely any cash compensation for services rendered. Instead, the potential board member is offered some form of equity. It seems like a "friendly" arrangement. No cash exchanges hands. So, there is little motivation for clients to invest the time and money to...
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