Inventor Advisor Agreement, Advisor Contract
An Inventor Adviser Agreement is an advisor contract where the advisor or business consultant agrees to serve as the Inventor’s advisor to provide strategic advice on the Inventor’s products or services, their development, general business, marketing, and/or sales business consulting and more specifically guidance on specific business, product development, formulation, compliance, marketing, sales, product strategy issues, financing, and lending his or her name to the business development or recruiting efforts.
The decision to use of a business consultant under an Inventor Adviser Agreement is ultimately a business decision as to your measure of trust and desire to have a written scope of work or services. Move forward with a sample adviser agreement template when you the inventor have concluded you need advice and you are willing to pay for such advice.
For example you may need help with:
- evaluating viability of products or services
- interviewing & assembly of a management team
- business forecasting and business or financial documentation
- preparing a business plan, executive summary, and financial projections
- funding and introductions to Angels or VCs
- product development
- manufacturing services
- distributor relations
- sales and sales contacts
- growing the business
- defining an exit strategy