Assignment 0

This assignment should be kept by your group, but not handed to the instructors

Team Contract & Peer Eval Forms

Does your team want to have an "ordinary effort", or are will your team insist on being a high performance, "go for broke", team. It should include a statement of the team hopes and values. It might also include a statement of conflict resolution, but I don't require it.  Don't go over 2 pages.  It can be a bare page.  This contract should be signed by all the members. It can be amended later if the team wishes.  I may ask for it as the need arises.

The peer evals should include a total numerical score. It will be handed in to the instructor with the final business plan.

Forgiveness Clause

If you haven't met the expectations in the team contracts, then you can fess up to the team and instructors and be forgiven up to 35% of the peer eval penalty.  It's a release valve in anticipation of poor evals.  You can then designate who you think should be given some extra points on your team. I want to soften the anger and allow some team reconciliation to occur.

V.  Agreements (part of the contract)

There are some issues which need to be cleared right from the beginning. Fights usually occur when there are company successes to be doled to members.  By articulating some simple statements, you will avoid some future grief.

If your team wants to enter a business competition, you should decide how prize money, trophies, and other winnings will be assigned.

Someone may be bringing his or her own company to the class. The agreement, e.g., may state that the other team members should not expect any future income or royalty for their work. 

If you have a general agreement to give options, you should word this very carefully.  You should not promise a certain percentage (it's hard to enforce in the face of investment dilution).

In general, it's harder to promise something and then later take it away, then vice versa. 

You can sit down with a lawyer to hash this out into legalese, but the general agreements should be created. I don't want agreements to be hastily written just to satisfy the assignment.  The two issues that should be resolve however are: 1) any competition related rewards; and 2) expectation of future rewards or ownership.