Professional_services

Professional services are infrequent, technical, or unique functions performed by independent contractors or consultants whose occupation is the rendering of such services. While not limited to licentiates (individuals holding professional licences), the services are considered "professional" and the contract may run to partnerships, firms, or corporations as well as to individuals. Examples of professional services contracts include: accountants, actuaries, appraisers, archaeologists, architects, attorneys, business consultants, business development managers, engineers, law firms, physicians, performing artists, researchers, and real estate brokers. The selection of an independent contractor or consultant providing professional services is usually based on skill, knowledge, reputation, ethics, and creativity. Price for services may be a secondary factor in the selection. Defining independent contractors or consultants as professional suggests that they do not derive any financial benefit from service or product providers that are recommended in the consulting engagement.

The term "Professional Services" is frequently used by corporations such as banks and retailers that offer infrequent or ongoing services for their customers.

References

• Indicators of regulatory conditions in the professional services (OECD)
• Better Regulation of Professional Services (EU)

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