Family Business Governance

A successful family business must manage two interconnected systems: the commercial needs of the enterprise and the relationships, ownership interests, and expectations of the family behind it.

L’Heritage helps business-owning families establish clearer governance around ownership, leadership, decision-making, succession, and the relationship between family and enterprise.

Our role is to create practical structures that support professional management while preserving family alignment, reducing ambiguity, and preparing both the business and its owners for future transitions.

Areas of focus

• Family and corporate governance
• Ownership roles and responsibilities
• Board and committee structures
• Succession and leadership transition
• Shareholder communication
• Family employment policies
• Conflict prevention and decision-making

What the advisory may include

• Governance Assessment — Review existing ownership, management, decision-making, board arrangements, and the relationship between the family and business.
• Family Governance Framework — Define how family members participate in ownership discussions, strategic decisions, and communication around the enterprise.
• Board Structure & Oversight — Evaluate board composition, independent directors, committees, reporting responsibilities, and governance effectiveness.
• Ownership & Voting Framework — Clarify shareholder rights, voting mechanisms, reserved matters, approval thresholds, and decision-making authority.
• Family Employment Policy — Establish transparent principles around family members entering, progressing within, or leaving the family business.
• Succession & Leadership Planning — Prepare for transitions in ownership, executive leadership, board participation, and next-generation involvement.
• Family Constitution Coordination — Support the development of principles covering governance, ownership, values, conflict resolution, and family participation.
• Professional Adviser Coordination — Work alongside corporate lawyers, tax advisers, accountants, board advisers, and other specialists where implementation requires formal advice.