Understand that relationships are more important than contracts. Business deals are relationships between people. The signed piece of paper is important, but it’s merely the result of the relationship, not the cause. If the relationship crumbles, the contract won’t save you, although it could be very lucrative for your lawyer.
Source: 10 Business Lessons From a Snarky Entrepreneur - http://www.stevepavlina.com/blog/2007/01/10-business-lessons-from-a-snarky-entrepreneur/
Contributed by: ~C4Chaos