Business relationships
What to review before a partnership
A practical framework for discussions with a commercial counterparty.
Understand the counterparty
Clarify the company’s identity, your contact’s role and their decision-making authority. A commercial contact is not necessarily an authorised representative.
Make expectations explicit
Define scope, volumes, standards, timelines and responsibilities. Each party’s assumptions should be comparable.
Organise verification
List the information needed and the qualified professionals who can examine it. The depth of diligence should reflect the transaction.
Formalise before committing
Record agreements, open points and conditions for proceeding. Have contractual commitments reviewed by appropriate advisers.