How to set up a Online Partnership ?

I'm working on a project with 2 other IM's to open a membership site. The idea is to be equal partners in this endevour.

Domain and hosting is setup but not at my end, so the control is with another partner. The partner which has those assets purchased the domain and the software script out of his pocket.

We haven't setup anything in respect to responsibilities and rights, only send a few emails forth and back about this.

As well, we never meet before and distances will most probably not make it possible to do so. I would love to know them personally, but this is not possible.

How would you setup a partnership in this situation ?

I hate contracts as ultimately the reliability and honesty of each partner count. On the other hand I will put there my time, knowledge and material into it (some PLR) so we should have some kind of a official agreement I guess.

I really would not like to make this complicated, so maybe you know a simple first step which can resolve this, where a bigger agreement would follow if the project becomes a success.

Thanks for helping out

G.