Shared ventures.
WHY THIS MATTERS MOST
Partnership disputes destroy businesses and relationships.
WHAT TO AGREE AT THE START
Who owns what proportion
Who contributes what: money, time, assets
Who decides what How profits are shared What happens if someone wants out What happens if someone stops contributing How disputes are resolved
THE EXIT QUESTION
The one nobody wants to discuss, and the one that matters most.
Agree it while everyone is enthusiastic.
WHAT GOES WRONG WITHOUT IT
One partner stops contributing and still expects a share Disagreement about direction with no mechanism to resolve it No way for anyone to leave
WHAT TO TAKE ADVICE ON
All of it.
This is the clearest case for a lawyer and an accountant, before starting.
WHAT STRUCTURE TO USE
Depends on your circumstances. Take advice.
WHAT NOT TO DO
Start a venture with a friend on a handshake
That is how friendships and businesses end together.
WHAT TO REVIEW
The arrangement, as the business changes.
