Provisions that transfer ownership of a specific intellectual property or invention (i.e. provisions relating to the assignment of inventions) often accompany work for rental arrangements, as a backstop, to secure the rights of a company that is waiting for work arrangements to maintain its ownership. 3) Consulting contract. As the name suggests, consulting contracts are used to employ consultants on a long-term or time-over-time basis. Sometimes a person may be an employee of a company and a consultant in a related company, and the consulting contract serves to document the additional relationship and the remuneration associated with it. A consultancy contract should clearly define the services to be provided, how they are provided, the fees to be paid and the bases (e.g.B. every hour or monthly, after receipt of an invoice or other period), and how both parties can terminate the consultation agreement. . .