Posted by Jon Richards on March 23, 2001 at 19:40:21:
#1: Any agreement must in writing
#2: Partnerships are difficult, if things work out you feel you did not need the partner; it they fail you tend to blame the partner. Be careful.
#3: I would offer the partner a percent return rather than any involvement in what you are doing. Or give him 20% of any profit on any deal.
In short, I would make him a worker, not a partner. Give him fair compensation when you make money.