Partnership Charter Part 1: Why is a partnership charter important?

Aug 19, 2020
Kris Ooms
Kris Ooms
What's the importance of a partnership charter?

Media tell us that even more so in Covid times, there is an exponential rise in start-ups with brilliant ideas from (to be) entrepreneurs combining their complementary knowledge and skills in a cooperation. These positive messages make us hopeful. 

However, very often partners enthusiastically start to create or build something together without the necessary caution, providence and planning. In their enthusiasm, they have little eye for important issues in terms of business details, personal relationships and future development of the organisation.

At a later stage, this can lead to conflicts, whether or not caused by external or internal triggers, which possibly end in a rift.

Taking time for a reflection on their partner hip is certainly not a luxury. 

The most important objective of a partnership charter is to remove any ambiguity between the partners about their joint project. It ensures that important matters are discussed and described. 

The charter guarantees a sustainable partnership. Difficult discussions today ensure success tomorrow and in the future. The charter can also serve as a basis for setting up a legal entity. 

In our next blog we will explain what a partnership charter should contain.

In the meantime, if you have any questions, please contact us.

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