Services
Family businesses hold a significant position in the economy, with over half of active companies being family-owned and contributing to more than half of total employment. Ensuring the smooth and efficient operation of these businesses is vital not only for shareholders but also for employees, creditors, customers, the government, and society at large. The continuity of business operations across generations is crucial in this regard.
Given their unique characteristics, family businesses often intertwine family and business relationships, where issues in one area can impact the other. Internal conflicts and differing views on the company’s direction and future are common challenges that can strain both business operations and family relationships. Identifying potential points of disagreement and establishing pre-determined solutions can prevent many disputes from arising.
At DT Law, we offer comprehensive consultancy services to family businesses, assisting them in drafting a family constitution that ensures the company’s sustainable growth and intergenerational transfer.
Our Services Include:
- Family Constitution: We work with family businesses to draft a family constitution, incorporating input from all family members to address their expectations and future plans. This document helps align family values with business goals, fostering harmony and continuity. Conducting individual and joint meetings with family members and business stakeholders to understand their dynamics and needs.
- Shareholders’ Agreement: We assist our clients in preparing shareholders’ agreements that complement the family constitution, detailing the rights and responsibilities of family shareholders and providing a framework for resolving conflicts. Preparing drafts of the family constitution and shareholders’ agreements tailored to the family business’s unique requirements.
- Articles of Association: We draft and review the articles of association to ensure they reflect the unique needs of family businesses, balancing family interests with business efficiency.
- Corporate Governance: We support family businesses in establishing robust corporate governance structures, including family councils and assemblies, to facilitate decision-making and conflict resolution. Advising on the integration of family members and professionals within the business, ensuring a balanced and effective management structure.
- Exit Strategies and Solutions: We provide guidance on exit strategies for family members, including buyouts, sales, or other solutions, to manage transitions smoothly and protect the business’s continuity. Working with family members to determine the principles of succession and ensure a seamless transition of ownership and management across generations.
- Dispute Resolution: Our firm offers expertise in resolving disputes within family businesses, providing mediation and legal representation to address conflicts amicably and effectively.
- Internal Mechanisms: Assisting in the establishment of internal mechanisms like family councils to facilitate regular discussions on family and business matters.
- Living Documents: Ensuring that the family constitution and related agreements remain dynamic and relevant through regular reviews and updates.
At DT Law, we understand the unique challenges faced by family businesses and are committed to providing personalized, practical solutions that support their growth and continuity. Our approach fosters harmony within the family while ensuring the business thrives across generations.