La. Admin. Code tit. 19 § II-505

Current through Register Vol. 50, No. 9, September 20, 2024

Section II-505 - The Mentor-Protege Agreement

A. The mentor-protege agreement is a written agreement between the mentor and protege, and approved by the Department of Economic Development.

B. The mentor/protege agreement, signed by the respective firms, shall be submitted to the Department of Economic Development for approval. The agreement shall contain a description of the developmental assistance that is mutually agreed upon and in the best developmental interest of the protege firm.

C. The mentor-protege agreement may set a fee schedule to cover the direct and indirect cost for such services rendered by the mentor for specific training and assistance to the protege through the life of the agreement.

D. The mentor/protege agreement shall include information on the mentor's ability to provide managerial or technical skills transfer or capacity building.

E. The mentor-protege agreement shall include termination provisions complying with notice and due process rights of both parties and a statement agreeing to submit periodic report reviews and cooperate in any studies or surveys as may be required by the department in order to determine the extent of compliance with the terms of the agreement.

F. The submitted mentor/protege agreement shall be reviewed by Louisiana Economic Development and approved if the agreement is in compliance with the program's mentor/protege guidelines and is consistent with Act 356.

La. Admin. Code tit. 19, § II-505

Promulgated by the Department of Economic Development, Office of the Secretary, Division of Small and Emerging Business Development, LR 26:1573 (August 2000), amended by the Department of Economic Development, Office of Business Development, LR 29:545 (April 2003), LR 30:757 (April 2004), LR 34:603 (April 2008).

AUTHORITY NOTE: Promulgated in accordance with R.S. 51:942.