Law and Wit Epi. 45: Business Partnerships: 5 Tips for a Good Founder’s Agreement

Do you have a business partner or want to go into business with someone? This is your MUST-LISTEN episode to walk you through exactly what questions you must ask each other so that you can be on the same page (literally and figuratively) for your business.

 

The episode includes 5 Tips (areas) that you’re going to want to talk about — strategy, management, ownership, intellectual property, and exit and includes ALL the questions and discussion that should go into those main decision areas.

 

As a *BONUS*, you get tips on how to get your business partner to have this conversation and get all of this down on paper in a solid founder’s agreement/partnership agreement/operating agreement (all used interchangeably — all the same SMART thing to have!!!)

 

Creative Counsel Episode 45

 

In This Episode, You Will Learn: 

• How a business partnership is kind of like a marriage and why a PRENUP is critical

• What you should be looking for in a good partner

• Tips on how you can split up roles and responsibilities

• How to handle shifting investments into the business (a dynamic equity model) 

• How and why you need to think of the end of the business at the beginning

• Tips for working with friends and family (even your spouse) and extra considerations so that you can preserve the relationship over the business!

• GET THE FULL QUESTIONNAIRE HERE for FREE (for a limited time) 

Episode Links 

Do you wand the EPIC handout that comes with this episode — the ULTIMATE BUSINESS PARTNERSHIP QUESTIONNAIRE??? Download HERE (before I change my mind and start charging for it — hahah!! but seriously….) 

 

Profit First

 

Slicing Pie

 

E-Myth Revisited

 

HELPFUL RESOURCES

Make sure you’re legally legit with my free legal workbook!

 

Do you have the contracts you need in place? Take a free quiz and find out exactly what you need for your business at creativecontracts.co.

 

Listen and subscribe to Creative Counsel on iTunes, Overcast, Stitcher, Spotify, and iHeartRadio.

 

Or browse through my quick tips and tricks by connecting on Instagram.

 

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Interested in working together for one-on-one legal services? Book some time on my calendar!

 

*This blog post is not intended as legal advice. No attorney-client relationship. For informational purposes only.