Thursday, June 2, 2011

To put it in writing, or not to put it in writing: that is the question...

Often times, a pair of individuals choose to partner up and start a business. Much like a marriage, the partnership is wonderful in the beginning. Think of it as the honeymoon period. 

I typically work with the partners from the beginning, think of me as the marriage counselor. From the moment they tie the knot - or sign the paperwork in this case, I try to figure out what type of relationship they have had in the past and what each party is bringing to the table.

One of my first recommendations is usually to display all of their ideas and duties in writing. This way there is no confusion as to what each party is responsible for. However, from time to time, I will have partners who will tell me "Rachel, our Word is our Bond." 95% of the time, these types of partnerships end in disaster. It is important for all business partners to come to the table knowing exactly what they have brought and what is expected of them.

At the Alvarez Law Firm, we enjoy assisting our clients in creating their futures, successfully. 

Rachel Alvarez
The Alvarez Law Firm A Professional Association
~Remember, the best compliment we can receive is referring us to your friends and family.~

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