Replying to Partnerships/LLCs/Startups halp

as alot of you know, ive failed majorly in pulling the trigger on appleheadz. working 50 hours a week on wall street isnt helping.

however, ive finally found a business partner to make this happen. he has the execution/databasing/tax/back room skills that i dont, and i have the concepts/designs/business skills that ive been working with for a while.

i know there's alot of startups on here, so i have a question for those of u who know anything about this. How do we go about this most effectively? is a written contract "you have 30% i have 70%" enough? do we go through a lawyer and setup an LLC? do i just employ him or contract him through the sole proprietorship i already have setup? ive been doing alot of research, but im curious to hear from people who've done it. feel free to PM me if its the kinda thing you dont wanna be public about.