In an interview with Smart Company, Leona Watson describes what happened when she wanted to buy out her business partner, but in the absence of any partnership or shareholders agreement.

Although the “breakup” was largely amicable, it still caused both parties stress and difficulty which could have been entirely avoided by putting in place a good agreement at the start.

One can only speculate on the litigation that might eventuate from the breakdown of a partnership where the parties are not on friendly terms.

A contract is about risk management and contingency planning. Many events, such as one partner wishing to leave, are eminently foreseeable, so why not plan on how to handle it in advance? It may save much worry, expense and uncertainty.

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