You have complete flexibility, and can instantly shift the dir- ection, policies and focus of your company. Yet, if there is a problem, the potential for the damage extending throughout your personal life is ever present. You will know all the bad things there are to know about your partner. It can destroy friendships, and you are com- pletely liable for whatever your partner does. If he or she orders a dozen Chinese junks, and then skips town with the money in your account, not only will you be out the money, but you will be liable for paying for the junks when they arrive.
Partnerships can work, when there is a clear division of responsibili- ties and abilities.
One other way partnerships benefit is to raise more capital. Your partner's contribution may be what you need to launch your business. The thing to do, if you do contemplate a partnership, is to have a clearly defined partnership agreement drawn up. Have it checked by a lawyer. The agreement should specify what happens if one of you de- cides to quit.