Exit Strategies and Transition Plans
Your current commercial relationships will all end at some point. Further, these relationships may end for a variety of reasons, and you and your vendors may or may not be on speaking terms when they do. Although this is a fact of business life, businesspeople usually don't focus on that fact at the outset of their relationships. Moreover, even the most amicable partings will almost always cause some disruption to your operations. However, if you do not clearly define your rights and responsibilities upon the termination of your relationship, you may experience otherwise unnecessary disruption if you and your vendor disagree about the terms of your separation.