Best advice would be to consult a lawyer. A few hundred dollars now to save you hours of your time and heartache later.
Some informal suggestions as options to consider researching further (maybe to ask the lawyer):
-Get all agreements in writing in the form of a formal contract
-Consider forming an LLC with the woman
-Consider contracting with her as a consultant, where she pays you a fee plus XX percent of profits
Quite frankly, I would never allow any sort of "informal partnership" if I'm making an investment of any type(time, knowledge and experience would your investment - and a very valuable one). Been burnt far too many times in my business and some people that come off as the nicest people in person can turn out to be the biggest scumbags when it gets to money.
Make sure you have a goal. Working and teaching her without one is setting you up for let down.
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She is interested in maybe forming a separate mushroom business with me in the future. For now she wants to do a some what informal partnership. Ill supply free labor and knowledge and she will supply the space, capital and her distribution network. Then we'd spilt the profits .
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I would remove any "for now" type of mentalities. "For now" is right next to "Good enough" in my book and to me is a mindset that you're accepting that the situation is not good enough and will have to be changed in the future - why not make the necessary adjustments right away? Begin the working relationship with a solid, well-defined foundation and build from there.
Unfortunately in today's business world, a person's word with a handshake means nothing. Cover your rear and talk with a lawyer.
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