A breach of contract can be frustrating and expensive; for business owners, it can also have a ripple effect as it makes it impossible to fill orders, business is lost and the company's reputation suffers.
Wherever you are in the life of a business partnership, understanding how each partner looks at a number of issues may affect your success immensely. Even if you're working with an idea that should be easy to make successful, conflicts within leadership can hamper a great idea from ever reaching its full potential. One of the most effective tools you can use to identify the priorities and perspectives within your partnership is a values agreement.
You hire a builder to build your dream home. You're very hands-off. After all, this isn't what you do. You let the builder do what he does best and you just wait for the outcome.
Your traditional contract is technically known as a bilateral contract. It involves a mutual exchange.