Family Business
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General Overview :: Family Business
A Family Business is a Business in which one or more members of one or more families have a significant ownership interest and significant commitments toward the business overall well-being. In some countries, many of the largest publicly listed firms are family-owned. A firm is said to be family-owned if a person is the controlling shareholder; that is, a person can garner enough shares to assure at least 20 of the voting rights and the highest percentage of voting rights in comparison to other shareholders. In a family Business, one or more members within the Management team are drawn from the owning Family. Family businesses can have owners who are not family members. Family businesses may also be managed by individuals who are not members of the family. However, family members are often involved in the operations of their Family business in some capacity and, in smaller companies, usually one or more family members are the senior officers and managers. Many businesses that are now public companies were family businesses.
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