http://7m7y.com/2008/08/18/andrew-asks/ Learn how to make $7 million in 7 years ... a NEW guided learning experience. Join now! Thu, 04 Aug 2011 07:45:42 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://7m7y.com/2008/08/18/andrew-asks/comment-page-1/#comment-577 Di Eats the Elephant Tue, 19 Aug 2008 15:07:44 +0000 http://7m7y.wordpress.com/?p=311#comment-577 Andrew, There is a lot of literature now on partnerships - perhaps more from The Ohio State University where several studies were done with major corporations on partnerships and the type of partnerships that they have formed. Adrian hit a key point here - you do not form partnerships just to have a partnership. The need for the partnership will drive the kind of partnership you will have. It could be an entirely arm's length partnership (which could be your hiring the firm, having the details spelled out - sales slips and those little bits of paper in our appliance buys are very typical of contracts that are arm's-length in nature) to a full partnership. Courting, dating, engagements and marriage, as well as divorce, are very good analogies to the types of partnerships that exist. As Adrian said - and it cannot be stressed too much - always have an exit clause in place stating under what circumstances and how the partnership will be dissolved. I suggest doing some online research on partnership or look for the Fisher College of Business (fcob.edu?) website at OSU if you can't find anything online. I know this is covered in books somewhere. Just scale it down to your operation, and combine it perhaps with those books on entrepreneurship and obtaining funding for those (the FFF (angels) network, and the venture capitalists, and what a major MAJOR difference in their management involvement is and will be). Good luck! Andrew, There is a lot of literature now on partnerships – perhaps more from The Ohio State University where several studies were done with major corporations on partnerships and the type of partnerships that they have formed. Adrian hit a key point here – you do not form partnerships just to have a partnership. The need for the partnership will drive the kind of partnership you will have. It could be an entirely arm’s length partnership (which could be your hiring the firm, having the details spelled out – sales slips and those little bits of paper in our appliance buys are very typical of contracts that are arm’s-length in nature) to a full partnership. Courting, dating, engagements and marriage, as well as divorce, are very good analogies to the types of partnerships that exist. As Adrian said – and it cannot be stressed too much – always have an exit clause in place stating under what circumstances and how the partnership will be dissolved. I suggest doing some online research on partnership or look for the Fisher College of Business (fcob.edu?) website at OSU if you can’t find anything online. I know this is covered in books somewhere. Just scale it down to your operation, and combine it perhaps with those books on entrepreneurship and obtaining funding for those (the FFF (angels) network, and the venture capitalists, and what a major MAJOR difference in their management involvement is and will be). Good luck!

]]> http://7m7y.com/2008/08/18/andrew-asks/comment-page-1/#comment-576 Scott Tue, 19 Aug 2008 12:31:14 +0000 http://7m7y.wordpress.com/?p=311#comment-576 I've always loved the expression "The only ship that won't sail is a partnership". I’ve always loved the expression “The only ship that won’t sail is a partnership”.

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