Structuring a partnership involves clear agreements and defined roles. Key elements include:
Partnership Agreement: Draft a formal agreement outlining the terms, responsibilities, and contributions of each partner. Governance Structure: Define the decision-making process, management roles, and conflict resolution mechanisms. Performance Metrics: Establish key performance indicators (KPIs) to measure the success and progress of the partnership. Exit Strategy: Develop a clear exit strategy in case the partnership needs to be dissolved or restructured.