Regarding sharing in firm

Hello, so i am starting civil contract work. But being a new firm i didn't get any project. So i thought to meet my friend(as he already have firm which works in civil project) . But there is one problem what if he cheats when he gets payment. I may face loss. So what i thought personally is , i can get partnership in his company and by getting partnership i may also get partnership in his company's current account(as a joint account holder) .so whenever he withdraw money he needs my signature. Or second way - we both may have agreement that his company will transfer all the work to my company(as i have new firm) as subcontractor . And will also move all the money to my company's account. Now(1) i want to ask is there any other way ? (2) above methods are applicable ? Any of them? (3) what would you suggest in such situation? (4) what papers i need to make before starting work or what kind of agreement i need to make ? (5) your personal advice to take any step ? Note - i have mutual trust on my friend but in today's time no one is neat and clean ..money makes everyone greedy. Hope will get better solution. Thanks