Partnership Help - Complicated

[Greg P.]

Hello, I've been somewhat successful creating a RE Business and looking to get into other ventures. My best friend asked to join my business, and he strives to be a entrepreneur. Knowing this, we worked out a 50/50 agreement between him and I. He runs the business and I teach him the ropes and systems in place (I'm totally not involved in all aspects and decision making). We split profits 50/50. What kind things should I be worried about? I know that we would do a confidentiality agreement saying that he cannot do RE with the strategies I teach him in a certain area for a certain amount of time, but is there any other things I should let the attorney know before he writes the contract? Thank you so much.

[J Scott]

I'd be concerned about someone who isn't experienced in RE running my business!!!