Partnership agreements are most valuable when certain problematic situations arise in a business. By signing a partnership agreement at the start of the partnership, the partners will establish a set of rules and guidelines to handle these situations and to avoid the additional headache associated therewith.

Hiring an independent contractor versus an employee can have a large fiscal impact on a business. In fact, many businesses will commonly shy away from forming an employer-employee relationship with their workers in order to benefit from the advantages of having a worker characterized as an independent contractor.