The Startup Advisor Contract serves as a crucial document for emerging companies seeking to formalize relationships with experienced professionals who can provide strategic guidance. This agreement, commonly used in the United States startup ecosystem, defines the advisor's role, responsibilities, and compensation structure, which often includes equity components. The contract addresses key areas such as confidentiality, intellectual property protection, and potential conflicts of interest, while ensuring compliance with securities laws and other relevant regulations. It's essential for protecting both the company's interests and the advisor's rights while establishing clear expectations for the relationship.
Startup Advisor Contract for the United States
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Key Requirements PROMPT example:
Startup Advisor Contract
"I need a Startup Advisor Contract for a fintech startup bringing on a senior tech executive as an advisor, with quarterly meetings and 1% equity vesting over 2 years starting March 2025."
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1. Parties: Identification of the company and advisor, including full legal names and addresses
2. Background: Context of the advisory relationship and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Services: Detailed description of advisory services to be provided
5. Term and Termination: Duration of the agreement and termination provisions
6. Compensation: Details of payment, equity, or other compensation
7. Confidentiality: Protection of company information and trade secrets
8. Intellectual Property: Assignment and protection of intellectual property rights
9. Representations and Warranties: Standard representations from both parties regarding capacity and authority
10. General Provisions: Miscellaneous legal provisions including governing law, notices, and amendments
1. Equity Compensation: Details of stock options or other equity arrangements when advisor receives equity compensation
2. Non-Compete: Restrictions on competing activities when protecting against competitive threats
3. Board Observer Rights: Rights to attend board meetings for strategic advisors with broader involvement
4. Expense Reimbursement: Terms for reimbursing advisor expenses when applicable
1. Schedule A - Services Description: Detailed outline of specific services to be provided
2. Schedule B - Compensation Terms: Detailed compensation structure including equity terms if applicable
3. Schedule C - IP Assignment: Specific terms for intellectual property assignment
4. Exhibit A - Form of Stock Option Agreement: Standard form of stock option agreement if equity compensation is included
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