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[Reznov]

Being in a partnership doesn't mean that you both will supprot each others till death, in fact, issues and troubles with a partner is worse than having your own issues, what steps could you do to protect yourself from those troubles and if any of it happens ?

 

[Reznov]

by working hand in hand with your partner.
by taken risk together
by makeing plans together
by communicating always
and lastly by advising eachother on the business ideas

it doesn't always work like that mate, you being always the good side does never mean you will always be living good moments as bad people exist as well

 

[Niftyicon]

One thing to apply is giving each person absolute control and responsibility over different aspects of the business. For example, A is in charge of personnel & logistics while B, finance & sales. So that whenever the partners come together, they give reports of their departments and are able to advise one another on the way forward.

 

[Ewogboka]

Full commitment of the both of you as partners, ensure all agreement and mode of operations of the business are legally documented and try as much as possible to manage eachothers differences.

 

[Jimasun1]

If the business is still young, you both should sign a memorandum of understanding with a trusted witness. As the business grow you'll have to involve a legal practitioner to make the sure both parties have a fair share of the business. It's also advisable to have a personal lawyer on standby. Seek quality legal advice on this.

 

[Wisdom01]

Its very hard to bypass bad issues , but if there is maximum cooperation ,delegation of authority and good communication then it could ease the issues that might arise to a certain level

 

[Ewogboka]

If you both belief you are not perfect neither will you both always be right in decision making and also build trust between yoursleves problems will be very limited.

 

[Reznov]

Full commitment of the both of you as partners, ensure all agreement and mode of operations of the business are legally documented and try as much as possible to manage eachothers differences.

documenting is exactly what i thought of as well, so in case a disagreement happens, everything will be controlled under law and there can be no claiming issues

 

[Reznov]

If you both belief you are not perfect neither will you both always be right in decision making and also build trust between yoursleves problems will be very limited.

i didn't say that the partners don't believe in each others, but human changes with time, and you'll disagree with someone for sure sooner or later in this life

 

[Balint098]

Form partnership only with the person you trusted, make them sign a legal document that binds both party to prevent fraud and other wrongdoings.

 

[Wisdom01]

Yeah the business affairs should be discussed among partners and there should not be any thing like keeping secret gossips about the business and partners involved

 

[Wisdom01]

I deeds of partnership, including the ratio of profit sharing among the partners to prevent any future conflictions

I think I support this opinion since its quite unfortunate that most of the partnership business without any written agreement and profit sharing ratio do have issues , i think this is the best method

 

[Harkhore]

Being in a partnership doesn't mean that you both will supprot each others till death, in fact, issues and troubles with a partner is worse than having your own issues, what steps could you do to protect yourself from those troubles and if any of it happens ?

There must be an agreement between the both parties in case if any issue rise up, for them not to scattered everything they have been working for in this case they need to apply love, understanding and also be prayerfull

 

[Wisdom01]

By working hand in hand with your partner and also stating clearly before going into partnership with the other person how responsibility and risk is to be shared.

A documents sharing those responsibilities would be better and it will reduce conflicts and others ,since there is delegation of authority and others added

 

[a_jerobon]

One thing to apply is giving each person absolute control and responsibility over different aspects of the business. For example, A is in charge of personnel & logistics while B, finance & sales. So that whenever the partners come together, they give reports of their departments and are able to advise one another on the way forward.

That is a great point. Devision of labour is a great move to having a sense of how the partnership business is run. It makes the partners to be responsible and accountable for each of the given area.

 

[Wisdom01]

That is a great point. Devision of labour is a great move to having a sense of how the partnership business is run. It makes the partners to be responsible and accountable for each of the given area.

Yeah its good to adopt division of labour , only that when adopting it there may be conflict between partners who will be given less duty to perform

 

[a_jerobon]

Yeah its good to adopt division of labour , only that when adopting it there may be conflict between partners who will be given less duty to perform

That should be solved by deviding the labour equally. The equality comes from assigning a duty based on the skills and expertise of the partner. That way, each partner will feel appreciated and work without conflict.

 

[Wisdom01]

That should be solved by deviding the labour equally. The equality comes from assigning a duty based on the skills and expertise of the partner. That way, each partner will feel appreciated and work without conflict.

Yeah every one should do the part where he or she loves and prefer well thats good and this will make the work more easier and faster to do I think

 

[freelancerjeph]

There must be a guideline guiding the two parties. Also, both have to play their own part for the progress of the business. They must also be dependable.

 

[Wisdom01]

There must be a guideline guiding the two parties. Also, both have to play their own part for the progress of the business. They must also be dependable.

Yeah most partnership business do have a legal documents binding their agreement , which guide them and others , and also they dont need to be too dependable