[spex x]

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spex,

I reread what you wrote. I am actually the investor. I will be doing none of the work and putting in all the money. The only real work I'll be doing is auditing type stuff to make sure I'm not getting dicked and collecting dollars.

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I'm not really understanding how the ownership will be split between you and your partner. Is he going to manage the bar but have no ownership interest? Or will he manage and have a partial interest?

In either case, I think that you want to be very very careful. If you and your man get into a fight and he decides to flake out on you, what do you plan to do? You don't know how to run a bar. You might think about how the business will operate in such a circumstance. Personally, I wouldn't get my money tied up in a business where the burden of operations rests solely on one individual (although, admittedly, I have done this in the past).

I'd recommend that after you open you spend some time in the bar learning how to run the place to plan for such a scenario. That way if your man flakes you can at least hold the business over until you can find an adequate replacement.