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In this tutorial, Mike discusses the importance of having a clear partnership agreement when entering or being part of a partnership. He highlights that defining each partner's roles, responsibilities, and accountability is crucial to avoid conflicts about duties and expectations. Mike shares his experiences, having been both a sole owner and a partner in various companies, and emphasizes that, despite being equals, one partner should assume a leadership role to ensure effective management and collaboration. Clear communication in these agreements can help prevent misunderstandings and dissatisfaction among partners.