I know Dp has a partner section, but since this is a question I think this is the right category to start. I have a question and I need some tips from experience business partner out there. 1. For example, we agree to share 50 and 50 profits and how do I know my partner is honest with me? how do I know he will be giving me 100 proof of all income. 2. how to prevent from cheating from your partner?
There is no way to be 100% sure - but both having the ability to log into revenue accounts would be a good start.
My opinion would be that if you have to wonder or ask, you should not be partners. I also realize sometimes partnerships are fromed in haste rather than friendship. Those relationships should have full disclosure and proof provided to all the partners. Just the way it should be done. The only way I would do even if it was a life long friend or family member.