Breeding Partnerships

...how do they work? Those of you who participate in them, what is your set up?

I recently agreed to begin a partnership with Tekes but have never participated in a breeding partnership before and neither has the other player, so I'm wondering for those of you who currently have some set up or have before, what were the basic guidelines you had set up? How did breeding work? Selling to one another?

I had a shetland breeding partner about a year ago. 
The way we did it, was one of us would chose one of the other person's horses they wanted to breed to and say a horse of their own they wanted to breed it to, and if the other person agreed they'd put the horse up for private brood/stud for the other person (for $1) and then the other person would breed it then they would choose a pair. Then we just kept going, and we'd debate who got to keep the foal after it was bred. 

idk that's just how we did it, I don't know about other people.

^{Previous breeding partnerships I've had was foal trading and swapping horses around basically, it was fairly relaxed. Kinda like a collaborative herd raised on two accounts. Breeder had first choice, second foal either went to the other person pr was sold on.} 

The partnership I'm in is a bit different- I have mares and the other person has stallions. Then at breeding age, we pair and breed the horses using studs, etc
basically the same as one breeding account, but one person has one gender and the other has the other gender.