We have department manages review and correct time hards.

Employees have to complete a form with the corrected time, explain why it was missed.

My local cafe does this. They have several sister companies around town. Bars and cafes.

2. biz is in decline and they want to offload it before it hits zero.

That’s the biggest risk. Owner may see a mark and is trying to offload his risk. Tread carefully OP.

50%? Why? Because he likes you? That’s an insane amount of equity for any business owner to just let go without some buyout for cash. This at least shows that he doesn’t have good business sense.

I would be extremely wary. Being 50% owner means you’re on the hook for 50% of liabilities. If the company is in debt or there’s a risk that rent will increase significantly and cause the business to go into the red then I’d avoid it.

Sounds like an expensive legal fight with nothing to gain.

Sweat equity for cash seems strange if it’s not tied to company success. That’s just bad for everyone.

Can you just negotiate that value owed into more equity?