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Mattie718 replied to the topic Partnership characteristics in the forum Business 101 6 years, 11 months ago
Partnerships are sometimes a good idea, but you need a strong foundation to build off of. All throughout college you are apart of different class projects in which you must rely on people to make certain decisions and complete certain tasks. With those experiences in mind, there are very few people in which I would pursue this type of business with. Your partner needs to be open-minded, responsible, ethical, and many other things if you are to trust working with them where everything you own could be at risk of being collateral. For me, I would prefer to climb the ranks of an established mid-size company instead of starting up a business and assuming such a large amount of risk, especially in medical devices where you are talking about people’s lives being in the balance sometimes.