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Click here to find out moreApplying best practices in governance of a family business can enhance the value of the business for the owners in many ways. It can improve a company’s financial performance, protect the owners’ other assets, overcome deficiencies in succession planning, and provide a way to avoid or resolve conflict among the owners without litigation. Creating effective family business governance practices requires attention to a company’s governing documents, the owners’ estate plans, and all agreements involving family members and the business. Join Gregory Monday, a partner in Foley & Lardner LLP, who provides essential guidance for how to: • Coordinate business governance and family trust management to best allocate authority for day-to-day operations and long-term returns; • Create exit strategies to enhance ownership value and liquidity for family members throughout the life of the business; • Formalize economic relationships between family members and the business to help ensure equitable returns for all owners; and • Use alternative dispute resolution to avoid litigation that might impair business operations and value.
