Developing a Family Constitution: Ownership and Control


As family businesses implement more sophisticated governance, the founding family often develops explicit rules in the form of a family constitution. This case explores one aspect of the family constitution, namely the ownership and control of the business in the second and third generation. An Asian patriarch, Ongky Lim, grapples with how to best preserve his legacy for future generations as he weighs advice from different people. The case helps family owners to evaluate different ownership and control options.

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