First comes love, then comes a contract??? As part of YSN.com’s 4 week series about achieving success in your professional and personal relationships, today we’ll discuss how creating a written contract can enhance any new partnership — and make it easier if you ever split.
Sign On The Dotted Line…
At the beginning of all personal or professional relationships, we never like to think about things coming to an end. However, it is possible, and while we aren’t advocating pre-nups here, think about it: When you join a gym, start a job, buy a car or download software, you agree to a contract, which ensures that everyone understands their responsibilities, liabilities and the consequences of not living up to the agreement. In business, romantic or even roommate partnerships, it is critical to be on the same page – literally. A written contract is vital in protecting everyone involved, avoiding dirty court battles, minimizing legal fees, and making it easier to end the relationship fairly and amicably.
For more information on protecting yourself in business partnerships, read Work.com’s Guide to Ending a Business Partnership. It also discusses the seven tell-tale signs that you are about to fly solo, including changing vision and competitive interaction.
For a sample roommate agreement, click here (pdf file).
Read this article from Divorce magazine about the “Myths and Realities of Marriage Contracts.”
And, of course, for a sample prenuptial agreement, please click here.