Question about ethics/morals regarding business partners?

[JSkinn]

I've recently partnered with a locally owned business helping the owner sell trading cards online. I earn a 10% commission, and he wants my commission to be removed from the cash flow. However, I want to reinvest the money in the venture. I realize he's concerned both with the money getting mixed up and not knowing who paid for what, as well as my investments undercutting his product acquisition and profits. However, I'm keeping an incredibly detailed record of purchases and sales, and I was planning on alternating every 50$ invested in product purchased between his money and mine, thus preventing any unfair growth. Would it be considered overly sly and/or poor taste to go through with this plan without his consent? I'm 100% sure I could move forward and prevent any potential issues such as confusion towards ownership, unfair/unequal profits etc. The only realistic consequence would be him getting upset at the fact that it's happening, should it come to light(which i'm sure it eventually would, given the nature of the business). He's a very stubborn man, and I highly value the partnership and potential for growth, however I feel like what I do with my money should be my business. That being said, I'm conflicted because I understand his concerns, and all of the initial investment/product was his. Any advice/insight?

[tallen]

Do you have a partnership agreement that grants you an ownership stake in the business?

[Freelancier]

I want to reinvest the money in the venture.
Would it be considered overly sly and/or poor taste to go through with this plan without his consent?
If he owns the company, I don't see how you can do anything concerning the company without his consent. Maybe there's a step missing here.

[JSkinn]

If he owns the company, I don't see how you can do anything concerning the company without his consent. Maybe there's a step missing here.

He owns the company, but i'm not technically an employee. We're operating on good will; there have been no documents or formal agreements. The product is being sold via my ebay and paypal accounts. I don't think I would be doing anything concerning the company by purchasing and selling my own cards. His money would be used to purchase product for his business, and my money would be used to purchase items for myself. Is this incorrect?

[tallen]

So you actually already are your own business, just acting as an independent agent on a commission arrangement for the other guy? Sure you can take your commissions and invest them yourself in your own inventory. But you do need to take them out of his business -- pay him his share (consignment fees, you could call them) out or your paypal account, keeping your commissions, and go to town -- it's your money, right?