by John L. Ward In a previous blog I wrote of recent research by Professors Lupkin and Brigham that offered clues to what Long-Term Orientation (LTO) means and how to see it in key prospective hires. Their three ingredients to … Continue reading →

Have lifecycle events in your family, such as marriage, birth or divorce, created business ownership issues? Are some family members experiencing a need for higher income from their investment in the business? Is there a need for increased liquidity because of an estate settlement? Have their been outside takeover bids or owner lawsuits? Is a change in management or board membership imminent? Are young adults graduating and pressing for a position with the company?

If you answered "yes" to any of these questions, it is time to revisit your family constitution, your company bylaws and other legal documents, as well as the policies and procedures that provide governance for the family, the business and the owners.