Truth 32. Board of advisors
A board of advisors is a panel of experts asked by a firm’s managers to provide counsel and advice on an ongoing basis. Unlike a board of directors, a board of advisors possesses no legal responsibility for the firm and gives nonbinding advice.[1] A board of advisors can be established for general purposes or can be set up to address a specific issue or need. For example, some start-ups set up customer advisory boards shortly after they are founded to help them fine-tune their initial offerings.
A board of advisors can be established for general purposes or can be set up to address a specific issue or need.
Similar to a board of directors, the main purposes of a board of advisors is to provide guidance and ...
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