A "Business Pre-Nup"

How can you successfully start a business with your friend, relative or lover?

Afterall, most people go into business with someone they know, which is even riskier to blend the boundaries between personal, legal & business, without a proper guide.

"The entrepreneurial path is stressful, expensive, and a little bit lonely. It’s only natural to want to team up with someone so you don’t have to shoulder everything alone."

It is important to understand that business partnerships must focus on having the difficult conversations early to manage future interpersonal legal conflicts that are inevitable. 

"Relationship problems between co-founders are among the biggest reasons companies don't make it."

Partners can draft their foundational legal document as a “Business Pre-Nup” to manage future conflicts that are likely to occur.

Business partners can have a facilitated discussion when creating their venture to clarify the legal infrastructure for actualizing their business vision. 

A Negotiation Counsel can facilitate discussion among founding business partners to plan for future disagreements and disputes.

Avoid business growing pains, by negotiating difficult legal conversations regarding roles, equity, and responsibilities at the outset.

"You can't plan everything, but there should be some common understanding over where you want to go and by when…As much as you can, manage based on objectives."

By facilitating a discussion of the sticky and difficult legal conversations with your business partners, you can draft a legal document to reflect your vision for the business. 

Your Business Pre-Nup should include the following topics: Roles, Decision-making, Sales / Transfers, and Conflict Resolution.