Publications
Publications
- September 2023
- HBS Case Collection
Note on Family Constitutions
Abstract
Less than half of family businesses will survive generational transfer. While sometimes this is due to operating company issues, in many cases it is because of conflict within the family. Many families create and adopt a family constitution to proactively mitigate these issues when they appear, and to serve as a reference to successfully manage conflict. This note will cover what topics should be discussed and included when creating the constitution and who should be writing it. It will also discuss how often constitutions should be updated, and who in the family should read and sign it.
Keywords
Family Business; Policy; Organizational Structure; Family Ownership; Conflict Management; Agreements and Arrangements
Citation
Wing, Christina R. "Note on Family Constitutions." Harvard Business School Technical Note 624-045, September 2023.