Introduction: a wonderful gift -- What policy making can do for your family and your business -- How to develop your policies -- What policies do you need and when -- Shareholder agreements -- Other policies to consider -- One policy, two ways -- A word about implementation -- Summary -- Appendices -- Appendix A: Family business policies to consider -- Appendix B: Sample conflict of interest and self-dealing policy -- Appendix C: Sample philanthropy policy
Summary
Developing policies to guide decision making can help the family business avoid serious problems. The authors provide a step-by-step process for engaging family members in developing policies which cover issues such as: dealing with conflicts of interest; retirement timing; distribution of profits; loan programs; compensation and succession
