Board of Advisors

Definition: Three to seven member board that advises management. Board provides expertise, experience, and prestige to a growing company. Entrepreneurs should choose board members based primarily on expertise anDefinition: d the willingness to lend their name to the company. A Board of Advisors is a cost effective alternative to a formal Board of Directors. Advisory board meets periodically, but does not have legal resDefinition: ponsibility for operations.

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