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.
advice to the owners/directors on strategic issues or risks. confronting the business. â¢ Create a âlearning forumâ. â¢ The advisory board is not a decision-making forum. Each company will need to determine the roles and. responsibilities of its advisory board to best suit its. particular circumstances and needs.