Ask HN: About to take on a partner, what to be aware of?

[potatofish]

I'm currently structured as an LLC, and my prospective partner is also structured as an LLC. We are planning to combine our intillectual property into one entity. Whether we create a third entity or whether one of us joins as partner to the others existing entity is yet to be decided.<p>What are some things to be aware of? It is my intent to remain the majority share holder, but not by a large percent. We also may want to take on some investment capital, so it will probably be easier to do with a C corp, but I am no expert in that area. Investment capital is not a big priority, we need very little of it, if at all. We may want to take on a 3rd partner as well.