So what will you be doing? if someone else is adding all the content and "managing" it? i am presuming your partner will be getting 80% + of the income (if this happens)
Also, will this be a real partner, if so you will need a business and to provide a contract signing?
Without these, whats stopping you from getting rid of your "partner" as soon as your site takes off?
Just wanting to give people who are interested in taking you up on your offer a better heads up