He means that from an accounting and tax perspective, the partnership form is the most complicated business entity you could choose. The tax code on partnershi

He means that from an accounting and tax perspective, the partnership form is the most complicated business entity you could choose. The tax code on partnerships is complicated enough that you could get into serious tax trouble without even knowing (or having any reason to believe) that you're doing anything wrong. Also, partners in a partnership are not shielded from liability (i.e., for lawsuits, business debts, etc.) like investors in LLCs or corporations are. Friendship can help, but at the end of the data, a business is about money. Do you know enough about your friend's financial wherewithal to be comfortable launching a business with him/her?