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When it comes to employee commitment, family-owned businesses
often can't be beat. But while family ties have helped make the
companies some of the most successful in Latin America, they can
also hasten breakdown when times get tough, or a family member
decides to cash out. Panellists discussed these issues and others
at Latin Lawyer's 5th Annual M&A Conference in São
Paulo.
You can choose your friends but you can't choose your
family, or so the old adage goes. Perhaps nowhere is that maxim
more tested than within the pressurised environment of a
family-owned business. With blood ties interlaced with career
progression, and family dynamics mingled with profit pools and
corporate governance, the shifting boundaries between the corporate
world and home environment can make for a charged atmosphere. With
the average family business lasting three generations, during which
time they may have accumulated enough market share to make it an
attractive target for a local rival or private equity buyer, it is
often when one, or several of the family members, want to transfer
ownership outside of the family tree for the first time that
conflict comes bubbling to the surfasse.
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The content of this article is intended to provide a general
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about your specific circumstances.
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