Glossary · People and paperwork
Advisory board
In short
A group of external experts offering non-binding strategic advice to a company's management. Buyers might form or inherit one to gain insights and guidance on business operations or growth.
What it means in a deal
An advisory board is distinct from a formal board of directors and has no fiduciary duties. Consider establishing one post-acquisition for strategic guidance, especially if you're new to the industry. Their insights can be invaluable.
Related terms
Common questions about Advisory board
Defined by CapBench SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
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