circle

Policy Development

Clarifying critical elements of your family’s relationship to the enterprise — and to each other

The Challenge

Many family enterprises have invested heavily in agreements and governance documents but have yet to compile these various policies into a comprehensive “owners manual.” As a result, they don’t always have a comprehensive understanding of how the different aspects of their governance interact, or the terms by which family members can effectively engage. Nor do they have a sense of the key gaps that remain in the documentation of their governance design or continuity plans, leading to misunderstandings and conflicts that are easily avoidable.

Our Solution

LGA’s Policy Development services help you create a family constitution that aggregates and aligns all of your key legal and moral agreements, including:

  • Policies for board participation (such as term limits, compensation, and relationships with management)
  • Policies for ownership transfer and liquidity
  • Policies for employment in the operating companies and career advancement
  • Policies for conflict of interest
  • Policies for philanthropic activities and opportunities
  • Policies for family office services and oversight

How does it work?

Working with key leadership teams throughout the enterprise, LGA’s advisors support our client families with:

  • Educating the family about the critical importance of policies as a key driver of family enterprise continuity
  • Creating a family constitution or protocol that compiles all of your existing policies
  • Facilitating discussions on revisions or the creation of additional policies to support the evolution of the family enterprise over time
  • Collaborating with the family’s legal advisors to translate these policies into legal documents and align them with legal structures and jurisdictional constraints
  • Educating the family on their rights and responsibilities — depending on their unique relationship to the enterprise

How does your family benefit?

You will emerge from LGA’s Policy Development advisory with the documentation needed to support your key stakeholders. You’ll have the tools you need to ensure that your key policies are well-understood and all aligned in support of your continuity.

policy development



Case Study

on campus learning

Case Study: Sustaining Engagement in a Cousins Consortium

Three third-generation Family Directors of a large enterprising family were attending a global conference focused on innovation and growth. Their 90-year old family had deep pride and gratitude for the success and leadership of previous generations. However, there were no family members currently working actively in the business, and the family’s only connection to their vast operations — which spanned eight industries and three continents — was limited to these three members of the Board.

Dynasty
-Articles

How to build a dynasty

Beretta—the name is synonymous with elegant weaponry. Ugo Gussalli Beretta, 13th-generation leader of the Italian dynasty, reveals the secrets of remaining a family business for five centuries.

Featured advisors