A written agreement doesn’t make the partnership complex. A complicated, convoluted, intricate written agreement that partners don’t understand is what makes the partnership more complex.
One of the challenges leaders experience when formalizing a partnership is determining the type of agreement needed to facilitate the partnership objectives (e.g., memorandum of understanding, service agreement, etc).
Another challenge relates to language. Having lawyers involved in the formalization process might be a necessary step for your partnership. Legal documentation that is created may also be necessary.
However, if your partners can’t understand the essence of the contents of the documents, they don’t serve the partnership in the long run. Is the document written in plain language, or do you need a law degree in order to decipher the meaning of the document?
If the written documents guiding your partnership are making things more complex than they need to be, simplify or translate them into shorter documents that are easier to understand.
- Posted by Enette Pauzé
- On July 21, 2016