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.
Having a Small Business Advisory Board can: 1) provide missing expertise. While small business owners are notorious for having to wear many hats, the truth is that not all of them will fit well. Everyone has their own strengths and weaknesses and very few of us are good at many different things.