Talk openly about potential problems that could have a negative impact on your friendship. For example, if finances are tight and working hours are long, none of you should take time off. If your car is in the store, ask if it would be normal to use a company car for personal errands. Resentment can hurt the company and your friendship, so you discuss potential “hot topics” when writing the contract to express mutual expectations. A simple business contract between friends protects the relationship by separating business and friendship. Read 3 min A simple business contract between friends protects the relationship by separating business and friendship. The oral or written contract lists each party`s obligations with respect to the company and the others. Violation of the contract is against the law and may result in legal action. While it is possible to write a basic contract on your own, it is advisable to consult a lawyer to obtain professional knowledge in the process. Commit to keeping your friendship and business partnership separate.
Avoid doing business conversations if you are doing something together as friends. Don`t discuss business issues with mutual friends. Agree to be honest and in advance in case of potential problems and you commit to having a neutral mediator to help you solve business challenges that could threaten your friendship. One of the most beautiful characteristics of true friendship is to understand and understand. Make your connection to a contract and let your friend feel especially about the emotions you share. It is amusing a contract like a legal contract made with both of your personal data in it. If you and your friend start an adult business together, you will write a complete business plan in advance. This will help you assess and evaluate important aspects of business development, management, financing and succession before you are over-invested. Don`t let friendship make informed business decisions.
For example, if you both know that the friend is a great thinker, but a chronic heator, address the plan if you assign tasks and responsibilities. Define the roles each of you will play when setting up and running the business and what steps you should take if one of you wants to step down or if you have major disagreements. 5.1 Both parties agree that friendships cannot be one-sided. Friendships must be based on mutual interest and loyalty. If Friend #2 is a jolt, you`d better believe that the friend #1 will raise him and throw him directly into his friend`s #2. I/We affirm and declare, under the laws of the Republic of the Philippines, the United States and the State, that it was concluded voluntarily and without threat, promise, coercion and/or coercion of any kind.