Addvida.com, I own office space. But I now run another business which, utilizes the ad agency as a client, but I'm never at the agency to contribute as before.
first, please put a bit more effort into your question, it's barely comprehensible. regarding your employee: talk to him, find out what level of ownership and what risk profile tickles his fancy. leave room for increases in the future. open communication + transparency --> make sure everyone's on the same page regarding expectations, roles, time commitments, etc. good luck.
The first thing I recommend is determining what you want from the partnership, chat with the person and see what they want. Hire a business valuation person to see what they see as tangible and intangible assets of the company. Sit down with a lawyer and ask advice from experts. I was recently coaching a client with a similar issue (he was the one wanting to buy in) the owner felt his toilets were made of gold. This can be an emotional thing, use experts to take the emotion out of it.
If you want to chat more, give me a shout. I know some great experts.