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  • Review policies with your lawyer on a regular basis

    The most critical but often overlooked policies for large family businesses tend to fall into two categories: transitions and day-to-day business operations.

    Leadership and other transition i...

  • Is this the time to review your key documents?

    Have lifecycle events in your family, such as marriage, birth or divorce, created business ownership issues? Are some family members experiencing a need for higher income from their investment in t...

  • Business Family vs. Family Business

    I recently met a woman—I’ll call her Gladys — who owns a substantial enterprise that employs several family members and loyal managers. She is extremely proud of her company&rsquo...

  • How to manage behind-the-scenes power players

    One Monday afternoon, Henry Pullman found himself embroiled in a heated argument with his brother George, co-chair of the board of their family business, about compensation for their non-family CEO...

  • A pioneer in the concession industry

    At the 1893 World’s Fair, a Ferris wheel pierced the sky. Tosty Rosty, a small mechanical clown, peered from a steam-powered popcorn machine.

    Charles Cretors invented that machine, whic...

  • Tips on finding the right mix of board members

    The percentage of family businesses with a board of directors is on the rise. In fact, many of the most successful family businesses use boards. Yet companies without a board tend to struggle with ...

  • The board's role in the search for a non-family CEO

    There is often an assumption at family firms that the family tree will always provide the right leadership for the organization. But this doesn’t always hold true. Take, for example, a global...

  • July/August 2012 Openers

    For many young people, summertime means a break from school, trips to the beach, amusement park rides, barbecues and ice cream cones. For many high school and college students whose families own a ...

  • How to avoid the 'cyberazzi'

    The paparazzi, with their clicking cameras, are notorious for stalking celebrities to feed the public’s curiosity about Hollywood stars. The reality of modern society is that you, too, have s...

  • A constitution is a tool to preserve a family's legacy

     

    As families and their businesses grow over multiple generations, the number of individuals involved in a family business naturally increases, family members’ expectations regarding t...

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