Consulting Services Agreements are an essential part to your business if you are in a field where technology and times change. Compared to brick and mortar businesses and services whose procedures remain unchanged over time, companies that utilize fast paced technology often need to get some advice from an expert in that field. For these services, we have consulting services agreements. Specific details for each contract differ, but there are a few key points and issues that you must make sure are addressed.

“In any consulting agreement, basic terms include:

• A description of the services to be provided by the consultant
• Compensation terms, including timing of payments
• Some type of performance metrics or specific deliverables are very desirable, although I’ve frequently seen them left out of far too many consulting agreements
• The usual representations and warranties of both the company and the consultant
• A clear statement that the engagement is on an independent contractor basis (not as an employer-employee relationship)
• Termination provisions, including a discussion of how disputes are to be resolved
• Liability limitations (usually to the benefit of the consultant)

Depending on the work to be performed, it can be essential that the Company also obtain specific assignments of any intellectual property that is created by the consultant which would otherwise belong to the consultant under intellectual property law.  This can be done either within the body of the Consulting Services Agreement itself, or in a separate Intellectual Property Assignment Agreement.”

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