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Advisor Agreement
I need an advisor agreement for a consultant who will provide strategic guidance on a project basis, with a focus on digital marketing strategies. The agreement should include a confidentiality clause, a flexible payment schedule based on deliverables, and a termination clause with a 30-day notice period.
What is an Advisor Agreement?
An Advisor Agreement creates a formal relationship between a company and its advisor, spelling out how they'll work together and share expertise. Under Indonesian law, these contracts protect both parties by clearly defining the advisor's role, compensation, and confidentiality obligations - especially important given Indonesia's strict business relationship regulations.
The agreement typically covers key areas like consulting hours, performance metrics, and intellectual property rights. It's particularly valuable for Indonesian startups and growing businesses seeking guidance from industry experts while maintaining compliance with local corporate governance standards and the Investment Coordinating Board (BKPM) requirements.
When should you use an Advisor Agreement?
Consider using an Advisor Agreement when bringing experienced professionals into your Indonesian business for strategic guidance, especially during crucial growth phases or market expansion. This becomes essential when seeking expertise in specialized areas like technology implementation, market entry strategies, or regulatory compliance with OJK requirements.
The agreement proves particularly valuable when engaging high-profile advisors, protecting intellectual property, or structuring performance-based compensation. Indonesian startups often need these agreements when working with foreign advisors, ensuring clear documentation of roles and responsibilities while maintaining compliance with local investment regulations and corporate governance standards.
What are the different types of Advisor Agreement?
- Advisor Contract: Basic agreement for general advisory relationships, focusing on essential terms and standard confidentiality provisions.
- Advisory Services Agreement: Comprehensive version with detailed scope of services and performance metrics, suited for long-term engagements.
- Startup Advisor Contract: Specialized for early-stage companies, often including equity compensation and milestone-based terms.
- Business Consultant Contract Agreement: Focused on specific business improvement projects with measurable deliverables and timeline-based compensation.
Who should typically use an Advisor Agreement?
- Startup Founders: Seek strategic guidance for business growth, often engaging industry veterans through these agreements in compliance with Indonesian corporate law.
- Business Advisors: Experienced professionals who provide expertise in specific areas like technology, finance, or market entry, bound by confidentiality and performance terms.
- Legal Counsel: Draft and review agreements to ensure compliance with Indonesian regulations and protect both parties' interests.
- Board Members: Oversee advisor relationships and ensure alignment with company governance standards.
- Corporate Secretary: Maintains documentation and ensures proper filing with relevant Indonesian authorities.
How do you write an Advisor Agreement?
- Advisor Details: Gather complete background information, expertise areas, and professional credentials of the advisor.
- Scope Definition: Outline specific services, deliverables, and performance metrics aligned with Indonesian business objectives.
- Compensation Structure: Define payment terms, equity arrangements (if applicable), and expense reimbursement policies.
- Time Commitment: Specify expected hours, meeting frequency, and availability requirements.
- Compliance Check: Ensure alignment with OJK regulations and local corporate governance requirements.
- Document Generation: Use our platform to create a legally-sound agreement that includes all mandatory elements under Indonesian law.
What should be included in an Advisor Agreement?
- Party Information: Complete legal names, addresses, and registration numbers of both advisor and company under Indonesian law.
- Service Scope: Detailed description of advisory services, deliverables, and performance metrics.
- Compensation Terms: Clear payment structure, including fees, equity (if applicable), and payment schedule in Indonesian Rupiah.
- Confidentiality Provisions: Specific protections for company information aligned with Indonesian data protection laws.
- Term and Termination: Clear duration, renewal options, and termination conditions.
- Dispute Resolution: Choice of Indonesian law and jurisdiction for conflict resolution.
- Intellectual Property: Rights assignment and protection clauses under Indonesian IP regulations.
What's the difference between an Advisor Agreement and an Agency Agreement?
An Advisor Agreement differs significantly from an Agency Agreement in several key aspects, though both involve external parties working with a company. Understanding these differences is crucial for Indonesian businesses to choose the right legal framework for their needs.
- Scope of Authority: Advisors provide guidance and recommendations but cannot bind the company legally, while agents have explicit authority to act on behalf of the company and enter into binding agreements.
- Duration and Commitment: Advisor Agreements typically involve periodic consultations or specific projects, whereas Agency Agreements often establish ongoing operational relationships with clear representation rights.
- Legal Liability: Advisors face limited liability for their recommendations under Indonesian law, while agents can create direct legal obligations for the company they represent.
- Compensation Structure: Advisor payments usually involve fixed fees or equity, while agency relationships often include commission-based structures tied to specific transactions or outcomes.
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