Clerky Advisory Agreement

Clerky Advisory Agreement: A Comprehensive Guide

When starting a new business or venturing into a new project, it’s important to have the right people on board. Finding experienced advisors who can provide valuable guidance and help you make informed decisions can be crucial to the success of your venture. However, it’s essential to have a clear agreement in place to avoid misunderstandings and protect your interests. Enter the Clerky Advisory Agreement.

What is a Clerky Advisory Agreement?

Clerky is a popular online legal service that offers customizable legal documents for startups and small businesses. Their Advisory Agreement is a legal contract that outlines the terms and conditions of the advisory relationship between an advisor and a company.

The agreement covers important details such as compensation, confidentiality, non-disclosure, and intellectual property rights. It’s a valuable tool for both parties as it establishes clear expectations and helps to avoid disputes.

Why is a Clerky Advisory Agreement important?

Advisors can provide valuable guidance and expertise, but it’s important to ensure that both parties are on the same page. A Clerky Advisory Agreement can help to establish a clear understanding of the expectations and responsibilities of the advisor and the company.

Compensation

The agreement outlines compensation for the advisor, including equity, cash, or a combination of both. The document also includes details such as vesting schedules, termination of the agreement, and acceleration of vesting in the event of a change of control.

Confidentiality and Non-Disclosure

A Clerky Advisory Agreement includes provisions for confidentiality and non-disclosure. This ensures that the advisor is prohibited from sharing sensitive information about the company, its products, or its intellectual property with third parties.

Intellectual Property Rights

The Advisory Agreement also covers intellectual property rights. This ensures that all intellectual property created during the advisory relationship belongs to the company and not the advisor.

Termination

The agreement also outlines the terms and conditions for termination of the advisory relationship. This includes reasons for termination, notice periods, and the return of any company property or confidential information.

Conclusion

In summary, a Clerky Advisory Agreement is an important legal document that outlines the terms and conditions of the advisory relationship between an advisor and a company. It covers important details such as compensation, confidentiality, non-disclosure, and intellectual property rights. By establishing clear expectations and responsibilities, the agreement can help to avoid misunderstandings and disputes. If you’re considering bringing on an advisor for your company, a Clerky Advisory Agreement is an essential tool for protecting your interests and ensuring a successful relationship.