Sep 4, 2008 10:14
Best Syndication BusinessVerbal agreements tend to never work out. Putting the terms of the partnership in writing is the smartest thing you can do to protect your business. Spelling out the rights and responsibilities in a written partnership agreement will better equip you to settle conflicts if they arise. You'd be surprised how minor misunderstandings can erupt into full-blown fights. Also, when you don't have a written agreement saying otherwise, your state's laws will control many aspects of your business.Having a partnership agreement helps your business in many different ways. It clearly defines each partner’s role and it will structure the relationship in a way that suits the business. In the agreement you can define how you and your partners will share profits or losses, what will happen if a partner leaves the business, and other guidelines you or your partners think are important.read more
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