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In this video, Mike from Mikes per Duty discusses the importance of having a clear partnership agreement for those in or entering a business partnership. He shares his experience as both a sole owner and a partner in various companies. Key points include the necessity of defining the specific roles, responsibilities, and accountability of each partner. Mike emphasizes that misunderstandings often arise when roles are not clearly outlined, leading to conflicts where partners question each other's contributions. He highlights that, despite being equals, one partner should take a leadership role to ensure the partnership functions effectively.
