How much you invest in this cooperation?
21.67% of the funding you invest in this cooperation or 28.33% of the funding you contribute to this cooperation? Or, nither?
If you contribute 21.67% of the investment, there is not way for you to pay 28.33% of the loss. Once the business fails, I believe you don't need to take out more money from your pocket and put it in the pocket of your partner.
If you contribute 28.33% cash to set up the business, then there is a possibility for you to lose that persentage of lose.
I would suggest, please just follow your partner. You may share the profit of the business if you succeed in the future. Otherwise, you will get zero from doing nothing. Your partner may find another person to conduct his or her business anyway.