Definition of misnomer. 1  1 : the misnaming of a person in a legal instrument. 2  2a : a use of a wrong or inappropriate name Nowadays it is a misnomer to call a farmer a peasant.b : a wrong name or inappropriate designation The name âGreenlandâ is a misnomer, since much of the island is covered by a massive ice sheet.
An advisory board would have to take a much more active role in the management of a business than should ever be contemplated before there could be any realistic risk that non-statutory liability could be attached to advisory board members as such.
A lack of definition in either of these two aspects of the advisory boardâs mandate is likely to lead to a disorganized board that will, at best, provide less value per dollar or hour invested than a well-mandated one and, at worst, will ensure a frustrating waste of time for the enterprise and the advisory board members.