FREQUENTLY ASKED QUESTIONS (FAQs)
A consultancy agreement is a legal contract between a consultant and a client by means of which the client buys the services of the consultant.
It is a type of services agreement. A very wide range of different services may fall under the general rubric of consultancy, the provision of guidance and advice, the preparation of documents or software, the management of personnel, the implementation of projects, and so on.
Other terms in a consultancy contract include, the scope of services to be provided, consultant fee calculations, treatment of intellectual property rights, treatment of consultant expenses, definition of client’s responsibilities, responsibility for any insurance and limitations of liability protecting the consultant and the client.
a) Analysis of outside perspective
b) Taking advantage of new skills
c) Advantage of an outside pair of eyes
d) Benefit of extensive knowledge of market dynamics
e) Saves time to apply for other profitable aspects of business.