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R. W
Can a paid business consultant be held responsible for business recommedations, legally ?
I have experience in small and direct sales business. I am considering consulting while I return to college.
the thing you want to do is get with a lawyer and get him to draft a proper contract that lays out that you are being paid for advice, guidance and direction and that there is no guarantee of profitibility based on your recommendations and advice
now, if you give someone blatantly bogus, uninformed, or grossly inappropriate advice, or if you did so on purpose you could probably held liable for violating a fiduciary duty to your client
SUSAN H
Yup, you can be legally liable. Your best course of action is to get some professional indemnity insurance (and make sure you know what you're talking about!)
http://www.shcl.co.uk
gnphyd
He is your consultant, but you are the decision maker. Success in any business depends on one's short term and long term goals and efforts put in. You woundn't pay more to your consultant if you earn more profit ! So he is just a consultant before you start your own business, and no way concerned if you succeed or fail in your business. No legal action can be initated if you see failures.
madrax
We live in a litigious society. Being found guilty in court is different from avoiding a law suit, so plan for the worst and hope for the best. Take your contract to an attorney, spend the extra $300 to add a disclaimer clause.
monkey
Usually they will have a clause in their contract letting them off the hook.
extraordinareality
Get yourself a contract like the Big Boys use to protect yourself make sure it has hold-harmless and indemnification and :"no warranties or claims made"...language.
www.onecle.com is a good site for templates. These are actualy contracts used in the business world. Save lawyer fees.
From an entrepreneur's perspective (lawyers are mad reading this) actual legal protection is not as important as telling someone not to mess with you. When you give them a contract that is significantly heavy it sends a signal that you are not to be messed with. This is your definition of success. You never want to end up in court over this stuff and people only start crap when they think you're weak / vulnerable. You can pre-empt this at the start of each engagement with a serious contract.
SPOLIEDSMARTASS
not sure check out the business laws in your state
angei0809
Yes you can because you are their consultant.
Laura W
If you are giving you CPA or Legal advice, or any other advise in which a specialty license is necessary (ie. do not practice medical or dental unless you are licensed to do so)
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