Overcommunication is better than undercommunication when it comes to your manufacturing contract, says Craig Lieberman, founder of 34 Degrees.

"I don't think there's any detail that shouldn't be explained or written into the contract," he explains. "From product development to who is paying for all the raw materials, how pricing is evaluated and reset from time to time, intellectual property, food safety and quality issues, recall issues... it really [should] run the gamut from start to finish of how your product is being made, packaged, shipped, and warehoused—and who owns the different pieces of all those puzzles."