|Justin Timberlake as Sean Parker and Jesse Eisenberg as Mark Zuckerberg in "The Social Network".|
I saw the latest blockbuster The Social Network this week and was thoroughly entertained from start to finish. Regardless of the accuracy of the portrayal of Facebook's origins, there were lessons to be learned for any entrepreneur looking to make a buck with anyone else - friend or foe. Fact is: Mark Zuckerberg and Eduardo Saverin were business partners that severed their relationship and it wasn't amicable. Ultimately, lawyers had to become involved and Mark Zuckerberg settled. This can be the most expensive route to resolve a business dispute yet tends to be a route taken time and time again.
When considering entering into a business relationship, we must diligently look for the risks. There are always risks in conducting business (side note: please make sure you note them in your business plan) so it is best to think of risky scenarios and plan ways to mitigate them.