In a days coming ahead,I am thinking of going partnership with one of my colleague in south Africa.Can somebody advice me on legal procedure and risk management. Any suggestion would be appreciated.
Good luck with "looking the cat out of the tree" (as they say) phase of your setup.
Depending on the type of business you will be conducting, very specific partnership clauses need to be included in your agreement.
I am sure we would all understand if you dont want to disclose a lot of info on a public forum but that would be needed to advise you properly.
The next best thing is to consult a lawyer. There your idea would be kept confidential.