Events that normally remain within the private family sphere, like marriage, divorce, conflict, generational rivalry, or death, carry great implications for family businesses. It is essential to identify, understand and foresee them in order to preserve harmony and family patrimony. These and other aspects were covered at the conference “Which Family Situations May Jeopardize the Family Business”, held last week and organized by ASCEF and Cuatrecasas.
According to Cuatrecasas, the family business needs to be aware of these situations that may affect the business project, making it necessary to think about both current and future family compositions. It was also underscored at the conference that family, business, and ownership are three different aspects, yet linked to family unity. The business family needs to have response mechanisms in the event of these kind of situations that may put the business continuity at risk.