Consulting Agreement

A Consulting Agreement details consulting scope, client deliverables, fee structures, and ownership of deliverables between an advisory consultant and a client.

Common Clauses

• Scope of work description and project milestones
• Retainer amounts, invoicing schedules, and expense reimbursement guidelines
• Intellectual property rights transfer clauses
• Confidentiality requirements for client business operations
• Relationship status clause (independent advisor)

Common Red Flags

• Broad client non-compete clauses that restrict consulting for other clients in the same industry
• Vague payment terms that make fees contingent on subjective client satisfaction
• Lack of clear boundaries on advisory hours, leading to scope creep
• Ownership clauses that claim pre-existing consultant toolkits

Questions To Ask Before Signing

• Do I retain rights to my custom templates and spreadsheet frameworks?
• How are travel and project out-of-pocket expenses reimbursed?
• Does this restrict me from advising competitors?
• What are the parameters for client milestone sign-offs?