It is essential to address important points when establishing a consulting agreement with a consulting firm to protect a company's interests and ensure clarity in collaboration. In addition to specifying who will own any intellectual property created during the involvement, the agreement should clearly define the scope of work, including deliverables, deadlines, and performance requirements. It is necessary to specify the terms of compensation, including payment schedules and reimbursement for expenses, as well as confidentiality provisions to protect private data like trade secrets, product designs, or business plans. Non-compete and non-solicitation agreements should prevent the consultant from working with competing businesses or approaching potential clients and employees. To effectively manage unforeseen issues, it is essential to include clauses related to liability, termination, and conflict resolution. This is also necessary to guarantee compliance with industry rules, such as AdvaMed suggestions.