• What do we both mean by “the business is successful”?
    • What do we both mean by “the business is not successful”?
    • What happens if one of us needs to voluntarily pull out, for any reason?
    • What happens if one of us cannot work on the business anymore, for involuntary reasons?
    • What are the conditions under which we’d call the business a failure and pull the plug?
    • What is plan B for each of us if we do pull the plug? Are we both prepared for that plan B?
    • What do we expect of each other, both in terms of responsibilities and in terms of attitude and effort?
    • What is and is not an expense? What is the maximum amount someone can spend on an expense without checking with the other? (from Sebastian Marshall)
    • When and how will profits be distributed? How much will be reinvested? What will the reserves be? (from Sebastian Marshall)