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My grandmother’s infamous recipes were the cornerstone for the truck’s menu: southern and sweet.We decided chicken and waffles would be the main feature, with different flavored waffles like red velvet, sweet potato, and banana pudding.Partnership agreements are written documents that explicitly detail the relationship between the business partners and their individual obligations and contributions to the partnership.Since partnership agreements should cover all possible business situations that could arise during the partnership's life, the documents are often complex; legal counsel in drafting and reviewing the finished contract is generally recommended.We missed out on the gig, and the business reputation we had worked hard to build was temporarily on the rocks.Lots of yelling ensued, and we went into our separate rooms again.Given the legal nature of the documents, however, it’s wise to have a legal representative review the language included in the MOU before it is signed.My boyfriend, John, and I had been dating close to four years when we started a food truck in northwest Florida. We saw the growing trend on the west coast and other large cities (yes, via the Travel Channel), and we believed we could do the same thing—sans any real cooking experience, of course.

While MOUs are technically legally binding, consider these documents as a tool to facilitate partnership and ensure a smooth working relationship between two organizations.

With stock redemption agreements, on the other hand, the insurance would be written in favor of the company.

One of the benefits of a buy-sell agreement is that, with the partners able to reach agreement, more innovative methods of solving the problem can be worked out and codified.

In fact, just the opposite—it has been incredibly hard.

But since I’ve blazed this trail, let me pass along some crucial advice we’ve learned along the way for starting a business with your boo. We were only 15 minutes down the highway when the engine cut off. Our two-hour trip took five hours, and by the time we got home, we were hot, tired, and wondering what the hell we had just got ourselves into.

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