Match each partner's share of costs to their share of returns; write duties.
WhenBefore a shared project
“Partnerships often finish in quarrels; but I was happy in this, that mine were all carried on and ended amicably, owing, I think, a good deal to the precaution of having very explicitly settled, in our articles, everything to be done by or expected from each partner, so that there was nothing to dispute, which precaution I would therefore recommend to all who enter into partnerships; for, whatever esteem partners may have for, and confidence in each other at the time of the contract, little jealousies and disgusts may arise, with ideas of inequality in the care and burden of the business, etc., which are attended often with breach of friendship and of the connection, perhaps with lawsuits and other disagreeable consequences.”
Benjamin Franklin, Autobiography, chapter XI, in Frank Woodworth Pine ed. (1916); events 1730s–1740s; retrospective manuscript written 1771–1790. Read the source ↗
Why it works
His Charleston agreement paired one-third of expenses with one-third of profits; later he credited explicit duties for amicable partnerships. A matching share is a proposal to discuss, not proof of fairness in every project.
Start tiny
Write one proposed contribution and the corresponding benefit in 60 seconds.
What you’ll notice
Notice an assumption you had not discussed.
When it slips
A one-sided list is not agreement. Ask the other person to correct it.
Benjamin Franklin, Autobiography, chapter XI, in Frank Woodworth Pine ed. (1916); events 1730s–1740s; retrospective manuscript written 1771–1790. Read the source ↗ Benjamin Franklin, Autobiography, chapter X, account of the 1733 Charleston partnership, Frank Woodworth Pine ed. (1916); retrospective manuscript 1771–1790. Read the source ↗
Growth: Practices that need preparation, a recurring slot or a useful tool.
