You are venturing into a business partnership with your best friend, your spouse, or your cousin. If you think you are safe from all the business conflicts that arise in most start up ventures because you know your partner very well, think again. Most conflicts and legal contests are because of this ignorant belief. You have to protect not only yourself but also your partner. Hence it is best for you to draw up a partnership agreement template before you decide to commit yourself.
When you start looking at templates you will find that there are literally dozens of them available, you may need to try several of them out until you find the one that will work best for you and all of the others who are involved in the venture. Your template should include spaces for you to clearly write down the objectives of the venture clearly so that everyone can understand and agree upon them. There should be a place that covers financial contributions and who is responsible for managing them.