Why Private Companies Establish Advisory Boards?

25 Feb Why Private Companies Establish Advisory Boards?

Unlike a formally structured board of directors, an advisory board is a less formal group of outsiders (to the company) that is organized to provide owners and corporate leaders with support, advice and assistance. While Boards of Directors have legally defined responsibilities, control and fiduciary duties; advisory boards have no formal power or binding legal authority, other than what you give them. They serve at the pleasure of the business owner or CEO with less cost, risk and liability to all parties involved.

Drive into why private companies establish advisory boards, steps to form an advisory board, and key elements to a boards effectiveness in our Advisory Board PDF.