Family Business Advisory Services
Our professionals have extensive experience with family owned businesses. Family businesses have all the problems of a typical business, but also have special problems that relate specifically to family issues. Such issues include business continuity, succession planning, family decision-making, business governance (roles of stockholders vs. board of directors vs. management), Ownership issues, and family governance. We can help the family deal with these issues and specific problems they create. Examples of ways we can help include assistance with:
- Establishing requirements for family members working in the business
- Establishing criteria for choosing a successor
- Establishing a working board of directors with positions for qualified, independent outside directors
- Establishing rights of ownership vs. rights of those family members working in the business
- Clarifying the vision of the company as it relates to the family, including policies to clarify the family’s role in the business
- Establishing guidelines for family meetings (to discuss business, as well as family matters)