Questions about a Partnership Opportunity....

Hi all –



I have an opportunity to partner with someone on an established internet property (mostly passive income with good revenue history). The partner in this case is the broker who was listing it….he put in an offer to the owner and they accepted. He is now looking for a partner. I am interested in this opportunity, but I do not know this person and he is some distance away from me (both of us are in the US).



If we were to proceed, this would go through an escrow service so I wouldn’t be writing a check to him directly. And, of course, we would have a partnership agreement in place that is approved by my attorney. Beyond that, though, I am not clear on how I would ensure, for example, how the corporate bank account could be set up so that one person wouldn’t have complete control over the funds, etc. Overall, I am just not clear on how you set up a partnership that has checks and balances in place to make sure people “play fair”.



Any insight or suggestions you could provide would be appreciated. Thanks.