If you plan to go into business in partnership, you need to be willing to share the profits. But what is the best basis for this, especially when a partner learns more working time, invests more money in business, or even sets up your business line of credit? Here`s what you need to know to plan your incentive strategy in a small business partnership, as well as a few other steps you can take to make that partnership airtight. Before entering into a partnership, you must draw up written contracts covering your agreements. A profit-sharing agreement usually expresses the ratio you use for the distribution of profits as well as the distribution of losses.