If you go into partnership with anyone, it would involve taking responsibilities of both the success or the failure of the business. It all depends on the type of agreement you make with your partner. I doubt very much if your partner would be willing to take the full losses should the business collapse but you can have everything clarified at the beginning. It is always better have a written agreement with your partner right at the very beginning where each terms and conditions have been clearly spelled out and no ambiguity is left. If you are introducing a new idea into the market and are sure of its success, then you can work out the terms with your partner.