Carmen Bianchi

Family Business Associates

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(858) 793-2445 or (858) 922-3155

Family Creed

One way to successfully manage conflict in a family business is to have a family-business creed. When well drawn-up, such a document can even prevent conflict occurring in the first place. It outlines your business’ core values and vision, and your family’s commitment to them.

Importantly, it is also a practical guide for running the business and a framework you can use to deal with family business issues that have the potential to cause disputes. The process of drawing up a family constitution should be collaborative, involving everybody with a stake in the business. The document should be regularly reviewed.

A typical family-business constitution might include the following sections:

* the business’ strategy, objectives and values
* leadership
* management structure
* entry principles for family members
* succession and exit policies
* rights, responsibilities and obligations of family appointments
* rights, responsibilities and obligations of family members not working in the business
* appointment and rights of non-family board members, management and employees
* training, remuneration and appraisal of employees – both family and non-family
* involvement of non-executive directors and other outsiders
* communication channels
* dispute-resolution procedures

Contact Us Today for more information on how we might be able to help your Family or Closely held Business.

Family Business Services

Family Retreats

Family Wealth Advising

Seminars

Estate Planning

Conflict Resolution

Consulting

Organizational Structures

Family Councils

Creating Family Creeds

Family Business Governance Structures

Entry and Exit Strategies

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