Timely and properly transferring family assets requires careful planning and training of successors and documenting the rights and obligations of all family members. This should be based on discussions between qualifying family members in which each express their...
Family reunions and family council Transparency fosters trust. As former US Supreme Court Justice Louis D. Brandeis once noted, "Publicity is justly commended as a remedy for social and industrial diseases. Sunlight is said to be the best of disinfectants ...."...
Advantages of family businesses What makes family business different from ordinary businesses is that they commonly have a small base of manager-owners. This can translate into fast strategic decision-making. At the same time, family shareholders are more likely to...
Introduction In Switzerland, as in many other countries, successful businesses are frequently managed and owned by families: a company once founded by an entrepreneurial grandfather decades ago is then build on by the next generation and the following generations...
Prerequisites The family members should actively lay the groundwork for the active involvement of the next generation through upbringing and education. By familiarizing the children with the history of the business and talking openly about current developments,...
