Money bag relatives

Author: Scott E. Friedman
Publisher:
Publish Date: 2002-09-01
Features: Protect family businesses, establish power transfer plans; resolve family disputes, inherit and promote family wealth. This book clarifies the complex relationship between businesses and families, points out the various flaws of family businesses, and the procedures and techniques introduced in the book are essential for both families and businesses to achieve healthy economic growth while maintaining close family relationships. Family councils and boards of directors are two important tools discussed in this book. These independent discussion topics are conducive to forming good decisions and effectively strengthening conflict management in family businesses. My view is that any family engaged in business is playing with fate if it lacks an independent board of directors with external participants, a family council that can discuss sensitive business issues, and rules that define rights and responsibilities, management, and ownership within the family.