Yesterday I did a post about a three-step approach to identifying contingencies that might need to be covered in a contract. Step 1 is to subdivide the business relationship into some standard top-level categories. I’m not quite sure what this says, but I just realized that these categories lend themselves to a mnemonic, S N I T S:
- Startup
- Normal operations
- Infrequent but standard operations
- Trouble, in various shapes and sizes
- Shutdown of the relationship — every business relationship comes to an end sometime