Agreement is the act of agreeing, coming to a mutual arrangement that is accepted by all parties to an arrangement.
There is another type of agreement which is gentlemen’s agreement. It is an informal agreement between two or more parties involved and relies upon and reflects the honor of the parties for its fulfillment which is not governed by any law. It is also known as a promise or verbal agreement.
Depending on the position you are in, you can have a verbal agreement or to have it pen down in black and white to protect your interests in-case anything goes wrong so you can claim and protect your business and your own intellectual property and trade secrets.
Experience with time will tell you that sometimes verbal agreements do not work and that is when you should pen it down in black and white to protect your interest and rights. If you are considering doing a business, consult a professional lawyer and have him or her write out a few local terms and conditions, privacy, refund, employment, breach of contract agreements before you start telling anybody about your business ideas.
Whatever that involves money and anything that will help either a person or a group of people to make money, have to be guarded nicely and be put in a safe nest for housekeeping making sure everything is law abiding and thus establishing a multiple win solution for all business partners, investors and employees interests at heart.
Have you started thinking about your own agreement? If your answer is no, you should and start thinking, think back of past experience which will help you come up with a list of conditions to be written in an agreement.
Protect your money, property and nest like how an animal protect their young in the wild.
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