Full Description
The 'life cycle' of a family business is a fascinating process. Beginning with the initial entrepreneur starting the business, it encompasses the development of the business to success, involvement of family members in the business, estate planning, preparation for integration of the next generation, creating a family constitution to regulate relationships among family members, and creating a family trust when appropriate. The completion of the cycle then gives the option of continuing - to potentially become one of the one-hundred-year businesses.
This Special Report is a one-stop collection bringing together a distinguished team of international contributors, each an expert in their respective field with a global reputation, to cover the entire life cycle of a family business. It provides guidance on many of the key issues encountered including governance issues, protecting the family business assets, fostering entrepreneurship and succession planning.
Life Cycle of Family Business is a unique source of knowledge for family businesses and professionals working in this specialist field. In this very readable single volume - edited by Barbara R Hauser and Alon Kaplan - those involved in family businesses can benefit from its expert guidance, at any stage of the life cycle.
Contents
Foreword 5
Dennis T Jaffe
Wise Counsel Research
Preface 11
Barbara R Hauser
Independent family adviser
Alon Kaplan
Alon Kaplan Advocate & Notary
Stage I: The same but different - enterprise heterogeneity 13
Justin B Craig
Bond University and Northwestern University
Stage II: The delicate family issues 29
Thomas M Hubler
Hubler For Business Families, Inc
Stage III: Creating a board for continuity and growth 45
Allen Bettis
Legacy Associates LLC
Stage IV: Risk management in family enterprise expansion 59
Wendy Sage-Hayward
Family estate winery, Southern Gulf Islands, Canada The Family Business Consulting Group University of British Columbia, Sauder School of Business
Stage V: Protection of the family business assets on divorce 77
Claire Gordon
Daisy Tarnowska
Farrer & Co
Stage VI: Entrepreneurship in the family business 93
Peter Vogel
Professor of family business and entrepreneurship IMD Global Family Business Center IMD Business School
Stage VII: Leadership succession in family firms 109
Christian Stewart
Family Legacy Asia (HK) Limited
Stage VIII: Beyond the third generation 131
Dennis T Jaffe
Wise Counsel Research
About the authors 145
About Globe Law and Business 151
