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I doubt the business policy is that you can't take partners out for meals and/or invest in relationship building via meals and entertainment expenditures. Nor
by erdevs 10y ago
I doubt the business policy is that you can't take partners out for meals and/or invest in relationship building via meals and entertainment expenditures. Nor is the policy likely that you cannot participate in such activities when offered by the partner.
The key is that you should not exchange company resources for what may be perceived as or actually be personal benefit. Outside a contractual term, set up a quarterly dinner to strategize, synchronize, assess, etc where the vendor pays? Sure! But, explicitly concede a material business term in a contract in direct exchange for a term that personally enriches you? No!
- guntars 10y agoThere is something to be said about this dinner being a part of the contract which makes it impossible for the vendor to weasel out of it. Not sure what's so special about this particular vendor, but a guaranteed recurring facetime with an important partner seems worth a few thousand bucks paid in fees.
- ethbro 10y agoI think it accomplishes a few things: recurring facetime, but also physical awareness of the magnitude of the point. If the vendor suddenly starts doing $500,000/month, both parties notice "Gee, we're going out to dinner a lot more than we used to." That seems an important fact to highlight.