Painful lessons or tips of business partnerships...esp with friends. Anyone? I'll start...

Tip 1. Have everything in writing. Don't be casual or trust word of mouth. It may be interpreted as distrust by the other partner/friend but better safe than sorry. Investing in friends' businesses without clarity (legal & literary) is the quickest way to lose friends. Tip 2. Never use your stock to get a business partner out of trouble, no matter how sympathetic the backstory is - esp if you have no equivalent savings as the stock. Add moreas appropriate...