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Memorialize and make things official.

It is not coincidence that one of the most important parts of an enforceable agreement is that there is a meeting of the minds. Most people still do business on a hand shake. Believe it or not, even as an attorney, I still believe in doing business this way, but just because your business ventures and transactions are based upon trust, it does not mean you throw everything into the wind. The problem is that with an understanding of one party comes a different understanding of the other. The most undervalued part of putting an agreement into writing or memorializing a conversation is not just to protect you if things go wrong but to prevent things from going wrong in the first place by creating accurate expectations.

Nasir Pasha, Esq.

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Managing attorney and co-host of podcast Legally Sound | Smart Business

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