"Not having a signed partnership agreement. All types of partnership should have every detail spelled out and signed by all parties. Far too many friends, and e

"Not having a signed partnership agreement. All types of partnership should have every detail spelled out and signed by all parties. Far too many friends, and even family members, have made the mistake of not putting everything in writing and ending up with strained relationships." Partnership agreements don't avoid strained relationships between partners-- shared understanding does. A thorough discussion at the beginning is a big part of this, but it's important to have frequent chats to make sure the partners understand the other's perspective. The document MIGHT help avoid a lawsuit... Though I imagine a lot of people might be lax on maintaining that shared understanding if they have the document as a crutch.