|
|
Forming a partnership can be positive for a business. Acting as partners allows individuals to share finances, creative ideas, workload, and facilities. The question is, is having a partnership a bad idea? There is a lot of legality to a partnership, and if it is not written up carefully and agreed upon, then it can create an opportunity for conflict. Unfortunately, precise-sounding legal language can conceal serious disagreements if the partners haven’t discussed their arrangements in sufficient details. There are always some unavoidable ambiguities even in the most detailed contracts. This can lead to big trouble if the partners haven’t bought in to the agreement on an emotional level. This happened to a group of five very experienced business people who could not quite agree on how they would share ownership of their new company.
|
