How can I effectively negotiate partnership terms?

What are the key factors to consider when negotiating partnership terms?

Key factors include mutual goals, profit sharing, responsibilities, decision-making processes, and exit strategies.

How can I ensure that the terms are fair for both parties?

Consider using a third-party mediator, conducting market research, and being transparent about expectations.

What should I do if my partner wants different terms?

Open a dialogue to understand their perspective, and be willing to compromise while keeping your core interests intact.

Are there any common pitfalls to avoid during negotiations?

Yes, avoid being overly aggressive, neglecting to document agreements, and failing to communicate clearly.