Federal Securities Laws: Compliance requirements if advisory services relate to financial matters or public companies, including disclosure obligations and insider trading regulations
Internal Revenue Code: Tax implications and requirements for advisor compensation, including treatment of cash payments, equity compensation, and expense reimbursements
Trade Secrets Protection: Federal Defend Trade Secrets Act requirements for protecting confidential information and trade secrets shared with advisory board members
Intellectual Property Laws: Federal and state regulations regarding ownership and protection of IP created or discussed during advisory board service
Anti-trust Regulations: Competition laws to ensure advisory board activities don't violate market competition rules, especially if advisor serves on multiple boards
Employment Classification: FLSA and state-specific rules regarding independent contractor vs. employee classification for advisory board members
State Non-Compete Laws: State-specific regulations governing non-compete and non-solicitation provisions in advisory agreements
Corporate Governance: Company bylaws, SEC regulations, and fiduciary duty requirements applicable to advisory board members
Data Privacy Requirements: Federal and state regulations regarding handling and protection of sensitive company and personal data accessed by advisors
Liability Provisions: Legal framework for indemnification, insurance requirements, and limitation of liability for advisory board members
Compensation Regulations: Rules governing advisory board compensation, including equity compensation, disclosure requirements, and tax implications
Conflict of Interest Rules: Requirements for disclosure of conflicts, fiduciary obligations, and application of corporate opportunity doctrine to advisory roles
