SO YOU DIDN’T DRAFT ZION, STILL PICK YOUR TEAM CAREFULLY
NBA fans will have to wait and see whether New Orleans will be the team to watch next year with #1 draft pick Zion Williamson coming to town, but that doesn’t mean you should wait to vet your team members. In fact, with the federal busy season literally around the corner, now is the time to make sure you know what to look for, and avoid, in a teaming partner. A good teaming partner will work with you to not only pursue business you might otherwise not get, but will enhance your reputation and agree to reasonable, written terms. Companies that you’ve never heard of or that don’t want to sign any type of agreement, even a one page document discussing why you want to team, should probably be avoided. Having a good teaming agreement is essential. Make sure it spells out things like what team member will be responsible for each part of the project, what happens if one of the team members can’t perform, and, importantly, how and when all team members will be paid. Provisions on indemnification, disputes, and rights in technical data should also be considered. Asking a few key questions up front is also important. Any settlements pending against the company? Have they met recently with a suspension/debarment official, is their contract current? All of these may seem obvious, but our experience tells us that they aren’t. Companies rush to team without doing proper check-ups more than you might imagine, especially when business heats up and deadlines are tight. You don’t want your team member to ruin your company’s reputation. Draft your team wisely, unlike some local NFL teams we could mention.