A friend of mine recently started working with somebody on a project without a contract.
The other person wanted to do it all on a handshake deal. They said they didn’t want to waste money getting lawyers involved.
When in business, hope for the best, but plan for the worst.
Ideally, I would suggest having a lawyer work up any sort of business agreement, but if that is too expensive, there are alternatives.
For instance, LegalZoom has a big selection of contracts that you can personalize and use.
They have all sorts of legal documents for starting and running your business.
This is not an area to be loosey goosey, because you never know when that wonderful person you’re working with could turn into a nightmare.
Button it down with NDA’s, letters of intent, termination letters, consulting agreements, and anything else.
You’ll be glad you did if things get messy later.