Successful Ownership in Business Families

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Abstract
The concept of ownership can be viewed in a narrow legal sense or from a broader perspective that encompasses knowledge, skill, integrity, responsibility, trust, and mutual consideration. When this “spirit of ownership” is achieved, the family business prospers and the family itself becomes a close-knit, effective team. This article describes some of the most important elements that can help a family with business ownership to become an effective business family.

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