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The Legacy of the Family BusinessFamily-controlled businesses are the cornerstone of the economy, accounting for more than two-thirds of all businesses in the United States. Over the next decade, family-controlled firms will experience an unprecedented number of succession events. Ensuring the continuity and success of the family enterprise is a priority for family business owners. To accomplish this, every generation of family firms must deal with issues of succession, control, and capital procurement for growth. Frequently, family business owners cannot simultaneously achieve all of their conflicting objectives and are forced to choose a suboptimal solution such as an outright sale or a transfer of ownership to the next generation without providing liquidity. As a result, the stability of the business may be disrupted; shareholder unity may be threatened; and capital may be insufficient for the company to grow and remain competitive. The differentiated governance and economic model that we employ is designed to provide family business owners with an alternative that meets each of their objectives of liquidity, continued control, significant economic ownership, and a strategic partner for growth.Family Firm AssociationsLineage Capital is an organizational member of the Family Firm Institute and an adjunct member of AFHE (Attorneys for Family-Held Enterprises). |
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