When Partnering Up, We Share Dreams. When Parting Ways, We Share Invoices.
There is a very common type of contract in Vietnam, especially among small business owners and new founders. It is not written on paper. It exists only in people's minds. The trouble is, each person's mind holds a different version of the file...
Article Summary
Many partnerships in Vietnam start with a handshake and "trust" as the sole foundation. However, when conflicts, losses, or exits occur, the lack of written rules often tears partnerships apart. This article argues that drafting a clear capital contribution agreement is not about mistrust, but rather about creating a safety railing to protect both the business and the friendship. The author outlines the key questions a simple but effective agreement must answer: from who contributes what, how decisions are made, to how losses are split and exits are structured.