Forming a partnership for business reasons is a lot like entering into a marriage; you need trust to make it flourish. If trust is not present, the partnership is doomed. Going into business with someone who may go behind your back, possibly putting you in a poor legal position, is never a good idea. If a partnership is in your plans, consult a lawyer, and look into forming a LLC or corporation to protect yourself from legal problems.
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What to Do if You Don’t Trust Your Business Partner – Businessweek