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[Music] hello and welcome back to another guide my journey todays question from one of my prospective clients Ive recently started a business with one of my friends and we dont have a contract is it necessary the answer yes yes yes yes if you start a business with anyone whether that be friend family or a stranger you have to have an agreement in place and theres a number of reasons why just because somebody is your friend or a member of your family it doesnt mean that things wont go wrong in the future and you really need to protect yourself so I cant stress enough how important it is to have a partnership agreement or a contract so what should a partnership agreement include what it should include the name of the partnership and the names of those involved in the partnership it should also include the name of the business if different from the name of the partnership it should include the length of the partnership so is it just until its closed or is there a specific period o
