Explain The Importance Of A Contract Agreement In Consultancy
In addition, the advisor must ensure that invoices comply with the terms of the agreement. If the agreement provides for an hourly rate, the corresponding invoices must be invoiced by the hour. As with the volume of work, the actual payment terms can be a referenced annex to the agreement if the terms need to be explained in addition to a few sentences. An intellectual property provision is another clause that some professionals, namely those who create or develop copyrighted works or licensable technologies, need in their consulting contracts. The Legal Information Institute defines intellectual property as any product of the human intellect that protects the law from unauthorized use by others….