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I'm currently in a partnership, not horse related, but it still applies. EVERYTHING! and I mean everything must be in writing and perfectly clear right from the start. Who takes what percentage, makes which decisions - and there will be a lot of them. Think stall drapes, how many manure forks, what color buckets, when to worm, shots, cheap jumps or really good ones, where to advertise, what type of grain and supplements, the list goes on and on. The little things pile up really fast and your partner will be taking advantage of them. Of course the partner will be certain that you are taking advantage of him or her too. Personal horse is no big deal until one partner has two and the other has 8. Boarding space and food going out more for one than the other. You're not spending as much time working with the horses as I am. Yea but I just cleaned the office and did the books while you were playing on horseback. You get the idea. Think of a couple of kids trying to share toys. I have two other partners and it took a while to iron out our differences, and it's still not perfect (5 years in Feb). A silent partner (think investor) is better, but remember they want to MAKE MONEY!
Best of luck, Mike
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http://greygelding.net/He knows when you're happy, He knows when you're comfortable, He knows when you're confident, And he always knows when you have carrots. ~Author Unknown[/size]  CARROT PLEASE 
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