Advisory Boards in Medium-Sized Companies

Advisory boards have become increasingly important in the recent past, especially in medium-sized enterprises; this trend is still unbroken today. Companies have recognized the advantages of an advisory board and rarely want to operate any longer without its advice, control, moderation, know-how or marketing effects. Depending on the legal system and economic culture of a country, the implementation, responsibility, liability and dissolution of such advisory boards can vary considerably. What is an acknowledged component of good corporate governance in one country is an atypical exception in another. Against this background, this book provides a comparative inventory of the advisory board model in the most important industrial nations and provides valuable insights into corporate law design practice.