It talks about setting up clear roles and expectations from the beginning. Contracts typically aren't worth the paper they're printed on - where you're at in life right now, you're not going to go to court if you fall out with someone. Contracts protect you a bit if you're further along, but a contract isn't worth a damn thing without a good relationship and clear expectations. The most important thing a contract can do is to lay out clearly, in writing, what you both expect to do and have roles set up. But so many of your assumptions will likely be wrong that you might have to redraw some elements of it over time. It happens - but getting down who does what, when, where, and how they're measured is huge. A basic operating agreement goes a long way. Check out E-Myth, it reads fast. Probably my favorite book on small business ever.
http://www.amazon.com/E-Myth-Revisited-Small-Businesses-Abou...
It talks about setting up clear roles and expectations from the beginning. Contracts typically aren't worth the paper they're printed on - where you're at in life right now, you're not going to go to court if you fall out with someone. Contracts protect you a bit if you're further along, but a contract isn't worth a damn thing without a good relationship and clear expectations. The most important thing a contract can do is to lay out clearly, in writing, what you both expect to do and have roles set up. But so many of your assumptions will likely be wrong that you might have to redraw some elements of it over time. It happens - but getting down who does what, when, where, and how they're measured is huge. A basic operating agreement goes a long way. Check out E-Myth, it reads fast. Probably my favorite book on small business ever.