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Family Business Perspectives Blog

Articles: 1-10 of 22

Should You Mediate Your Family-Owned Business Dispute?

USA - September 12 2017 Disputes between and among owners of family-owned businesses are sometimes unavoidable. When such disputes progress to litigation, they can be…

High Time for Massachusetts Employers to Consider a Marijuana Use Policy

USA - August 17 2017 All employers should maintain an employee handbook or similar policy statement that clearly sets out the employer’s position on drug and alcohol use…

Definitions in Shareholder Agreements Matter When Transferring Family-Owned Business Stock

USA - August 8 2017 Owners of family-owned corporations often enter into shareholder agreements that spell out whether and to whom corporate shares can be transferred…

Do You Have a Reasonable Expectation of Receiving Dividends if You Acquired Your Shares in a Family-Owned Corporation Through Gift or Inheritance?

USA - July 31 2017 Corporate shareholders often expect to receive dividends in connection with their ownership of corporate shares. This is particularly true when owners…

Will Your Family-Owned LLC Be Required to Pay the Fair Value of a Withdrawing Member’s Interest?

USA - July 13 2017 Family-owned businesses that are organized as limited liability companies typically reflect the terms of the company’s governance, along with the…

Do You Have an Enforceable Contract for the Sale of Family-Owned Business Interests or Just an Agreement to Agree?

USA - May 10 2017 Family members often transfer family-business ownership interests or other assets between each other. Their discussions sometimes progress from…

Massachusetts SJC Sends Reminder of Fiduciary Duties in Closely-Held Corporations

USA - May 4 2017 In a recent decision, the Massachusetts Supreme Judicial Court ruled that directors of a corporation owe a fiduciary duty to the corporation itself…

If You Expect to Work in the Family-Owned Business for Life, Be Sure to Get It in Writing

USA - April 27 2017 Family-owned businesses often employ multiple family members. Even if there is an expectation that employment will continue indefinitely, the company…

Pay Attention to Bylaws When Taking Corporate Actions

USA - April 25 2017 All too often, family businesses are run in an “informal” fashion, with insufficient attention being paid to corporate formalities, including…

Corporate Formalities Matter in the Transfer of Shares of Family-Owned Businesses

USA - April 18 2017 Shares in family-owned businesses are often transferred between family members, whether through a sale or gift during a shareholder’s lifetime or…