Family Business Ownership

  • Reference: SMN-667-E

  • Number of pages: 10

  • Publication Date: Feb 5, 2013

  • Source: IESE (España)

  • Type of Document: Technical Note

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Description

Individuals who belong to a family that owns a business are faced with a choice: whether or not to participate in the family business project. Family members who do wish to be involved become committed shareholders. Some family members may decide not to participate in the family business. No one can force them to become shareholders. Likewise, if they are already shareholders, no one can force them to participate in how the business develops. Even family members who are handed down shares in a business, or an entire business, through an inheritance are not obligated to accept them. An inheritance can always be refused. This attitude is based on an individual's freedom to determine the direction that his or her life will take.