Though the legal and tax rules are different from one jurisdiction to another, family owned company have to face similar problems whatever their nationality. For instance, they have to transfer the control from one generation to the next. They may have to open their share capital to third parties (senior executives, investment funds, competitors, IPO). They have to set up governance rules to take into consideration the interests of the involved parties (members of the family holding a position in the company, members who retired, members who only own a small stake in the company …). They may have to participate to merger and acquisitions as buyers or sellers.
It would be interesting as advisors to these companies to discuss the solutions applied in various countries. From these discussions, new ideas may arise and some solutions applicable in one country may be also applicable in others, with the required adaptation.
As family owned companies have often a different approach of their management and of their strategy, it would be also interesting for our clients to find in the different jurisdictions advisors who understands their specificities and who are able to provide solution adapted to them.
