Addendum to the Mentor-Protege Agreement

Addendum to the Mentor-Protege Agreement is a 2-page legal document that was released by the U.S. Small Business Administration and used nation-wide.

FAQ

Q: What is the Mentor-Protege Agreement?
A: The Mentor-Protege Agreement is a formal arrangement between a mentor company and a protege company, in which the mentor provides assistance and guidance to the protege to help them develop their capabilities and business.

Q: What is an addendum?
A: An addendum is a document that is added to an existing agreement to make changes or additions to the original terms.

Q: Why is an addendum needed for the Mentor-Protege Agreement?
A: An addendum may be needed for the Mentor-Protege Agreement to address specific modifications or updates to the original agreement, such as changes in the scope of the assistance provided or the duration of the mentorship period.

Q: What should be included in the addendum?
A: The addendum should clearly state the changes being made to the original agreement and provide a detailed explanation of the modifications or additions being implemented.

Q: Who prepares the addendum to the Mentor-Protege Agreement?
A: The addendum can be prepared by either the mentor or the protege, or by mutual agreement between both parties. It is recommended that legal counsel review and approve the addendum before it is executed.