One of the greatest challenges faced by family businesses is the delicate task of managing business relationships among family members. Expectations about participation rights, entity control, financial rewards and entitlements more generally may be mismatched, leading to tensions and poor business performance. In this context, this session will consider the principal legal documents essential to establishing certainty with respect to those rights and entitlements. Specifically, this session will consider:
- Role and composition of the family business governing body
- The position of stakeholders
- Shareholders/Unitholders' agreements
- Family Constitutions and Family Councils