WHITE PAPER: What is a Family Business and What Type of Governance Structure Does it Require?

A family business is a company that is owned and led by multiple members of a family. The most well-known family companies include LVMH and the Carrefour group in France, and Wal-Mart and Ford Motor Co. in the United States. This particular business structure is unique as highly personal relationships coincide with business alliances, so careful and well-thought-out governance is critical.

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