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FAMILY GOVERNANCE
A framework and process among family members based on the family culture, values and a family target and future goal to achieve
Critical and effective in choosing future generation and help them in taking over the control of family business
Typical issues addressed by a family governance framework include:
The roles, rights and responsibilities of family members
A system enabling the inclusion of the appropriate family members in business discussions
The formation of "family committees" for strategic decision-making for the business and strengthen business-to-family communication
The formulation and implementation of family employment, development and compensation policies and matters relating to the family well beings including education and development of family members, charity and entertainment
A mechanism for disposal of ownership interests
A succession process for future generation
Dividend and distribution policies
What We Do For Our Clients
There is no fast and straight rules for family governance as the actual substance will be affected by various factors including different talents of family members, strength, interests and communication style, number of generations involved and …
We can recommend and discuss with the family for the form of family governance according to the unique features of the family
Help in drafting relevant documents including terms of reference of different family committees, where appropriate
Assist the family in going through the governance system smoothly and provide advise for modification, where appropriate
Assist in convening and holding of family committee meetings, drafting of minutes and keeping and tidy up of relevant records
The ultimate purpose is HARMONY and UNITY
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