Family Owned Business

Philip L. Chapman, Esq.

Family Business

If your business includes a parent, an uncle or an aunt, a brother, sister, cousin or in-laws, you’re in a special category: one that exposes the business to unique challenges and problems.

Most people like to solve their own problems. However, there are times when seeking the assistance of a knowledgeable professional is a better way: For instance:

	when a family member is not performing his or her responsibilities and a non-family member in such position would be fired
	when business matters can’t be discussed without an argument
	when other employees, especially valuable ones, including family members, are jealous or resentful or highly critical of family members
	When planning for the future leadership of the family raises lots of “red flags”
	When the structure, or a rule or practice compromises personal and family relationships
	When there is serious and chronic open conflict between or among family members