It seems pretty risky to me in today’s economy. This is just an opinion and we know everybody’s got one. Is this private company a corporation or sole proprietorship?

If a corporation, how could you purchase the stock evenly and maintain the owners’ majority. Then upon “retirement’ who of the twelve remaining would run the company?

If it is a sole proprietorship how could the transfer of ownership occur and eliminate heirs’ rights.

This is just a small privately owned business, not a coorperation. When I say there are 12 employees, I am also referring to 6 part time workers. There really is only about 4 of us who have been there 20 plus years and could do this. I know it is risky, but isn't doing nothing and letting the business go bankrupt risky too? We would all be in our late 40's and early 50's without a job and there are not a lot of others out there.