Quote:
Originally posted by 12clicks
I never said there was no corporate identity.
I only do deals where I can lose money with people that I trust.
If you can't trust who you deal with, a contract WILL NOT save you in this business.
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A contract allows you to go back and specifically refer to details that someone may forget over time. I refer back to them all the time myself if I have a specific question about a detail. A contract spells out exactly what was agreed upon between the two parties in black and white so there can be no confusion.
I know people in this industry who have been around for a long time who also did things on a handshake with someone they trusted and are now embroiled in court battles over who was responsible for what.
I'm sure the opposite is true as well...there are plenty of people who do business on a handshake and never see any problems from that business deal, but that's not to say they never will. And if they do, they have nothing but a conversation and a handshake to refer back to.
-joe