Family Business Constitutional Setup

A Family Business Constitutional Setup refers to a formal framework that outlines how a family-owned business is governed. It includes guidelines for decision-making, roles and responsibilities of family members, and policies for resolving conflicts. This setup helps ensure smooth operations, aligns family and business interests, and defines ownership structures. Like a constitution for a country, it provides a clear structure to maintain harmony within the family while driving business success, especially during transitions like leadership changes or new generations entering the business.