In family businesses, it is crucial to uphold the interests of all family members, establish transparent and clear management mechanisms and safeguard assets against internal disagreements and potential inexperience of successors. These objectives can be achieved by creating a family governance structure allowing families to organise their activities, ensure family participation in managing businesses and assets, and provide a framework for decision-making.
Based on our experience, well-designed and properly implemented family governance structures foster unity and harmony among family members, streamline business processes and facilitate a seamless transition of wealth across generations.
BGP Litigation counsels families and beneficiaries on establishing family councils, boards of directors and other communication platforms and forums for family businesses.
A family council plays a pivotal role in managing a family business. The BGP Litigation team collaborates actively with family council members on issues such as training family members in the basic principles of family, corporate and inheritance law.