Advisor Agreements | Goodlawyer | Services
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Cohesive Advisor Agreements for your business.

Having an advisor when starting your business is an asset.

$600 + Tax

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Advisors bring value to your business.

Advisor Agreements are used by businesses to secure advising services in exchange for some combination of cash and/or equity. These agreements define the advisor's duties, how they will be compensated and what happens if the advisor fails to fulfill their responsibilities.

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Why book an Advisor Agreement?

Motivate your advisors.

Advisors who are being compensated with either cash or equity have a high incentive, as well as an obligation to spend more time and energy helping your business grow.

Reduce your risk.

Advisor Agreements provide a clear deal so everyone knows what the advisor is expected to contribute to the company. If they fail to meet their obligations, the Agreement will clearly outline the consequences.

Conserve your runway.

Compensating advisors with equity or stock options can secure top talent for an early-stage or struggling business while conserving cash flow.

What's covered in an Advisor Agreement?

First, you'll have a kick-off call with your Good Lawyer to discuss your current situation. After the call, your lawyer will carefully complete your Agreement. They will share a copy of the final document.

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Book an Advisor Agreement

1. Project kick-off call to gather information, advise you and answer questions

2. One custom Advisor Agreement

3. One round of minor revisions if necessary

How do Advisor Agreements work?

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1. Book a kick-off call

Pick a time to discuss your Agreement with a Good Lawyer.

2. Design your Agreement

Talk to a lawyer about your business goals and the Advising relationship at hand. Your lawyer will be able to advise you and draft an Agreement with the right terms for your situation.

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3. Receive your Agreement

You will receive a digital copy of your customized Advisor Agreement ready to distribute and sign.

Book an Advisor Agreement

Get your paperwork done the easy way so you can get back to running your business.

Frequently asked questions

How should I compensate my advisor?

Compensation depends on many things, including the qualifications of the advisor, their level of involvement in the company, and your business goals. Your lawyer will be able to provide some industry-standard options that can help you decide what to offer and ask for in return.

How long does an Advisor Agreement take to draft?

You can expect to receive your finalized Advisor Agreement within 1 week. If your needs are more complex than usual, it could take longer, but your lawyer will always let you know.

Can I just use a template I found on the internet?

There are very few Advisor Agreements available online and even fewer that will work in a specific industry and legal jurisdiction. Like any contract, the specifics of the deal are important and using a general agreement will make it difficult, if not impossible to adequately capture all the nuances of your relationship with an advisor. If you’re unsure about a template you found online, you can book a Contract Review and a lawyer will help you understand the template.

Do I need a lawyer in my province?

Generally, no, you don’t need a local lawyer to draft an Advisor Agreement. Advisor Agreements should cover you across the whole country, but if your business has some nuance that requires local expertise, your lawyer will let you know and Goodlawyer can set you up with another lawyer who can help.

Will I be able to communicate with my lawyer after the kickoff call?

Yes, absolutely. You can use the Goodlawyer platform to send messages and files. If substantially more communication is needed, your lawyer may request another call.

Not sure what you need? Book a free call with our Legal Concierge.

Goodlawyer is an interactive online service that makes it faster and easier for clients to find and hire legal help solely based on their preferences. We are not a law firm, do not provide any legal services, legal advice or “lawyer referral services” and do not provide or participate in any legal representation.

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