Special Issue: Family Firms and the Law

June 17, 2024 - Issue #120

Family Firms May Need More Legal Advice Than They Think Family Firms May Need More Legal Advice Than They Think Families are often reluctant to anticipate and plan for the day when an unexpected transition might upend their business. The costs of inaction are high.
How To Know When You Need a Lawyer (and How To Find the Right One) How To Know When You Need a Lawyer (and How To Find the Right One) Here are nine situations when a lawyer is a must, guidelines for getting the most from your legal budget, and steps for finding the right advisor.
Divorce Can Hollow out a Family Business — But it Doesn’t Have to Divorce Can Hollow out a Family Business — But it Doesn’t Have to It’s surprising how many business-owning families fail to properly plan for this worst case scenario. Here's advice from two experts about protecting the business.
'I’ll See You in Court?' There’s a Better Way for Businesses  'I’ll See You in Court?' There’s a Better Way for Businesses  Alternative Dispute Resolution helps businesses resolve legal matters outside of litigation, allowing the parties to voluntarily reach a compromise.
What the Bob Ross Fight Can Teach Business Owners What the Bob Ross Fight Can Teach Business Owners The fight over the beloved TV artist's estate is a cautionary tale for any business. How to protect your business and your heirs well before you die.
5 Ways to Keep Your Kids From Fighting Over Your Will 5 Ways to Keep Your Kids From Fighting Over Your Will Communicate early and often, get input, be fair and detailed about your plans, and write a letter to your children explaining your choices.
Beyond Succession: Family Firms Need a Legacy Plan Too Beyond Succession: Family Firms Need a Legacy Plan Too A family venture can thrive if its values are passed along to the next generation. Defining those values is the first challenge.
Non-Competes Are a Double-Edged Sword Non-Competes Are a Double-Edged Sword While non-competes are often viewed as low-cost insurance policies, they can have hidden costs. Here's how to tell if they're right for your venture.
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Men and Women Cling to Power for Different Reasons
by Nancy Forster-Holt, Jim Davis, and Cassidy Creech / Research Insight

While male leaders often view stepping down as a threat to their identity and accomplishments, female leaders appear to be motivated by other factors.  Read more...

How Family Businesses Can Recruit the Best C-Suite Candidates
by Annika Ehlers, Ryan Rumble, Claudia Binz Astrachan, and Massimo Baù / Research Insight

Family-owned businesses often struggle to compete with non-family firms when it comes to recruitment, and understanding the expectations of job seekers is crucial to attract the best talent. Read more...

The Perks and Pitfalls of Hiring Your Parents
by Kimberly Eddleston / Interviews

Allen Esrock of NxtGen Nexus weights in on how to optimize the free labor and other benefits, and how to manage conflicting goals, sibling resentment, and suspicious non-relatives who work for you. Read more...

Justifiable Pride or Arrogance? It Matters for Family Businesses
by Fabian Bernhard / Research Insight

Bragging about your family connection is universally bad, but even pride in your accomplishments must be displayed carefully -- especially in eastern cultures. Read more...

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How Family Dynamics Shape Family Businesses
by Joseph Astrachan and Claudia Binz Astrachan
Why Families and Their Firms Behave Badly
by Roland Kidwell, Kimberly Eddleston, Linda Kidwell, John Cater, and Ellison Howard
Family Business Succession Planning: 10 Golden Rules
by Tom Rüsen, Torsten Groth, and Arist von Schlippe
Editorial offices located at St Thomas University

Editorial offices located at St Thomas University

Popular
How to Pitch Your Startup to Attract Money
by Jonathan Littman and Susanna Camp
Supported by the Richard M Schulze Family Foundation

Supported by the Richard M Schulze Family Foundation