by Mark Long
“Get everything in writing.” That’s a popular phrase in business, but an honest one. To protect yourself, it’s always a good practice to do things by the book — and to get everything in writing, taking nothing for granted and certainly leaving nothing to the imagination. All details become important when there are questions concerning responsibility, liability or decisions. That’s why it’s important to understand the significance of having the proper documentation in place.
Anyone who has ever been burned on a verbal agreement can probably think of many reasons why incubation programs use written agreements to formally document their relationships and interactions with clients. Verbal agreements can be informal, leading to inconsistencies in how an incubator interacts with individual clients and allowing both sides to interpret pacts differently.
Incubator documents address all aspects of working with clients, from how to use the photocopier to the acceptable amount of time a client may remain in the program. Some documents are commonly used among incubators of all types, while others are more closely tied to an incubator’s specific mission and needs.
Keywords: application – client, documents – incubator, lease, legal issues, policy
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