Business partnerships are vastly different today than in years past. The old "handshake and a smile" doesn't exist as people more and more go back on their verbal contracts. Verbal contracts are difficult to prove without hard evidence which is why today it's always best to have everything in writing. Every detail needs to be spelled out so you can avoid the pitfalls that occur so often when one party "trusts" the other party to do the right thing. Once money gets involves, many people have difficulty doing what is morally or ethically the correct thing and choose to do what will financially benefit them most.
Case in point: Office dA, renown architecture firm in Boston which sees it's two partners in court battling over the firm, money, and rights to acknowledgment of various projects. The two partners have worked together building this firm to great heights for over 20 years, yet they are seeing some major problems because Nader Tehrani assumed Monica Ponce de Leon would do the right thing when he vested over control of the firm to her by allowing her to have 51% share in order to compete for projects that are only open to "Women Owned Companies".
Well....things haven't worked out quite so peacefully. You can follow the link to find out more. Remember, get EVERYTHING in writing including the small details (the things you might say are trivial).
http://www.boston.com/business/articles/2010/12/01/partners_of_prestigious_hub_architecture_firm_at_odds/
- Design is what you make it.
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