Board of Advisors

Board of Advisors - The board of advisors is a less rigid, or formal, alternative to a board of directors, which is commonly used, as opposed to the board of directors, in small companies. This board of advisors usually has from three to seven members on it. These members usually meet periodically to discuss how things are operating, ways to improve operations, and then they take the results of their discussions and findings and use that to advise the owner and management on which direction the company should proceed. The board of advisors assumes no legal responsibility for the operations or advice provided involving the company.