50/50 won't ever work. Maybe an agreement on profit sharing, pay is 50/50 (contingent upon you performing your expected duties) and actual ownership is technically 50/50, but day to day decisions can't be 50/50. You'll kill each other and micro manage each other, crazy headaches, stress. Different levels of management need assigned. You've got to trust your partner to make the right decisions and vice versa. You handle this, they handle that. Stay out of each others way but work towards a common goal. You do need a tie breaker if internally there is not one big cheese. Which could be a board of directors when a decision can't be made. Although a board is for capital decisions (major purchases), appointing officers, et cetera. Better solution is that one of you has the last say for day to day operations if need be or a committee of odd number members, typically employees including you, is formed to be the tie breaker for day to day decisions that you get your panties in a wad about. Being an owner, the board of directors allows you to take the topic to the board if you wish and you can call a board meeting, if you're an officer. Depending on if the owners are working owners changes how the management team should be assembled.