a partnership agreement allows for two or more people to share in the profits and losses of a business, as well as make decisions crucial to its success. your employee must be in accord with how you run the business and share your vision for growing the company. if you operate a business as a partnership, taking on an employee as a partner means giving the employee part ownership of your company. draft a partnership agreement that defines the new ownership structure, such as giving your employee a percentage stake and what part of the business is her responsibility.