If you intend to be in business with someone else you should regulate the way in which the business is managed and consider:

• how are decisions about the business or its management to be made
• what happens if a business partner dies or becomes unable to work
• what terms will apply if you or your partner wish to leave the business
• how will you resolve disputes
• will the partners be required to devote all their working time to the business
• can you or your partners have an interest in any other business
• how are profits and losses to be shared
• how is the business to be financed
• in what way will the dynamics of any existing relationship be changed if you take on a new partner