SUMMARY
- You don’t have the money to defend yourself in court
- Or as Peter Thiel said a single digit millionaire can’t defend himself in America
- Grant Cardone’s lawsuit cost him 200k per month
- It’s why most people settle – and that still costs an arm and a leg
- Contracts only protect you when you’re rich
- In fact when you’re rich enough, the contract doesn’t even matter
- When you’re rich you can extract what you want contract or no contract
- Unless you’re rich you’re f#$ked, just like many other areas in life
- You’re best bet is to charge your losses to the game or maybe try to settle and get a piece back
- But even better is protecting yourself as much as you can by:
- Go into business for yourself (partners are dangerous)
- If you partner, partner with a close, capable, trustworthy friend (otherwise strangers and enemies)
- Get paid upfront, don’t build a business where you have to chase clients downto pay you at the end the month and assume a contract will protect you
- Outsource your work to reputable companies with cash as opposed to individual
- Be ethical – limits the chance of you being involved in anything legal
