Personally, if it's a parntership with someone in the industry I beleive that first there must be mutual respect and work ethics.

Then you need to look at the 'what I bring to the picnic" factor. Does this person have a specialty or skill the business needs? Do you have something (contacts, content, etc) or do something that you do (programming, consulting, etc) to enhance the company?

Each should compliment the other and not over shadow each other. Ones weakness should be a strength in the other and visa versa.

Once you can establish a commonality THEN it all goes down on paper as in a plan. I don't think you need to start everything over, but layout what it is each expects to accomplish - sites, affilaite programs, non adult, adult etc. Bring it all together as a new plan.

Once everyone is agreed, then put it all down in legal agreements. This is an important part. Since we live and work in cyberspace, I find some people have this idea that contracts aren't necessary. They are SO needed! I think many of us have felt the sting from not having things in writing at one point or another.

But before all the legalities and signatures, there HAS to be a solid common foundation and plan that all parties agree to.

My two cents...

GA