You usually make partnerships with someone you know and trust. But I think when you take someone as a partner, you should have documents where it clearly mentions what percentage of the business he will own, how profit and loss will be distributed, responsibility, and all relevant information.
There can be conflicts with a business partner, but most of the time, we can easily resolve that by defining it clearly at the beginning.
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Someone, familiarity doesn't build trust. Trust comes with the proof of a track record and that's why staring up a business with a partner based on only familiarity can be the bane of a business. But at the end, like you said, documentation helps to mitigate all that risk.
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