Ownership & Leadership Transition

The Shakespeare Series, Part 1: King Lear, A Guide to Sibling Rivalry

One of the biggest struggles of a family business is surviving succession. According to Lloyd Steier, Professor in the Department of Strategic Management and Organization at the University of Alberta ...

Founder of Anthony’s Restaurants and Children Discuss Generational Transition

On January 10, 2019, the Seattle office of Davis Wright Tremaine hosted Bud Gould and his children to discuss the history and legacy of one of the most iconic Northwest ...

Family Owned Businesses and Our National Economy

Family-owned businesses continue to dominate our economy, but they also continue to struggle with issues of succession. SCORE, a nationwide non-profit organization that provides business mentoring, just completed a survey ...

Six Best Practices for Family Leadership

Stephen Campbell, Managing Director and Head of the North America Family Office Group at Citi Private Bank, recently authored a post about successfully navigating the generational transfer of leadership in ...

How to Survive Transition Shock in a Family Business

Otis Baskin, a consultant of the Family Business Consulting Group, recently authored a post in Family Business Magazine, reiterating the importance or preparation and planning in family business success. Mr. ...

Governance & Business Operations

Legacy Series Event Held March 27, 2019

On March 27, 2019, Davis Wright Tremaine and partners the Pacific Family Business Institute and Cascadia Capital, held a lunch in Yakima, Washington as part of their Family Business Legacy ...

Gender Equality and Your Family Business

Family businesses constitute an estimated 70 percent of the annual global GDP and around one-third of the S&P 500 companies in the U.S. Despite this influential presence, it appears that ...

How to Lead a Family Business When You Aren’t Family

In the modern-day realm of family business, it is increasingly common for leadership positions to be filled by individuals who are not family. Like most leadership positions, the benefits of ...

Running a Successful, Drama-Free Family Business

Family businesses, like any other business, are often created when a family least expects it. Womaze, a self-empowerment app with a mission to “democratize wisdom, reminding women of their infinite ...

Focus on Governance to Ensure Family Harmony and Business Continuity

You may have noticed a recent flurry of articles on “Governance” in our Family Business Resource Center. This is intentional. The concept of “Governance” as it applies to families and ...

Estate Planning

The Importance of Planning Ahead for Succession of a Family Business with Active and Inactive Family Participants

You have spent a substantial portion of your life building or continuing a successful family business, and you have some children (or other family members) who are active in the ...

Let ILITs Pick up the Tab – Trusts That Protect Your Interest in the Family Business

It is common that one of the largest assets in a family business owner’s estate is his or her interest in the family business. This situation can be problematic because ...

This Time Is Different: You Really Do Need to Update Your Will and Durable Power of Attorney

With the advent of higher exemptions with respect to the Federal Gift, Estate, and Generation-Skipping Transfer Tax passed last December (referred to as the 2017 Tax Act), it really is ...

Don’t Leave Contaminated Real Property to Your Kids — A Toxic Legacy!

We invite your review of the linked article from Bloomberg BNA’s Environmental Due Diligence Guide Report™. There are dangers inherent in leaving your heirs real property that may have been contaminated ...

Estate Planning Strategies Driven by Interest Rates

There are a number of estate planning strategies that work well to move assets in an efficient manner from one generation to another within a family. In evaluating any such ...

Growth & Exit Strategies

Shakespeare’s Romeo and Juliet: The Transformative Role of Millennials

Part III of our series on Shakespeare and Family-Owned Businesses takes us back to a familiar theme: managing succession in ownership and leadership in family-owned businesses. And we turn again ...

The Shakespeare Series, Part 2: Hamlet, or How to Manage the Curious Generation

For fans of Shakespeare, our blog is taking a literary bent again. Our first Shakespeare post related the lessons from King Lear. Now we turn to Hamlet. We all know ...

2019 – The Year of Positive Planning

A few weeks have passed since the beginning of the New Year, and we suggest that it is time to check-in on your family business’ New Year’s resolutions. One resolution ...

Family Businesses and Tech – Leveling the Playing Field

There is a belief that family businesses are behind the curve when it comes to embracing new technology in the company structure. In a 2016 family business survey, 37 percent ...

Should a Family Business Consider an IPO as an Exit Strategy?

There are a multitude of ways to realize ownership transition–some simple, some complex, some a safe bet and some full of risks. For the ambitious, successful family-owned company that wants ...

Employment

ADA Considerations for Your Family Business

Compliance with the Americans with Disabilities Act (ADA) is a topic of concern for all businesses. All too often, we assume the ADA only applies to large employers or in ...

Employment Laws to Keep in Mind for Family Business Owners

There is often a temptation for small and mid-sized family-owned businesses to disregard employment laws, particularly when considering a family member’s employment, but those laws generally do not have an ...

She’s Right for the Job – Women in Family Business

Family businesses are increasingly encouraging women. Of family businesses surveyed, almost 60 percent have women in top management positions and over 30 percent list a female as the next successor. ...

Paid Family Leave in Washington: What You Need to Know

On July 5, 2017 Governor Jay Inslee signed into law Washington’s new paid family and medical leave measure, making Washington the fifth state to create a paid family leave program ...

What Family Businesses Should Know about Washington’s New Paid Family Medical Leave Law

On July 5, 2017, Washington State joined a handful of states mandating paid family and medical leave. The new leave program, to be funded by employer and employee premiums, will ...

Beyond Business

A Healthy Dose of Conflict

According to Josh Baron, Columbia Business School Professor and co-founder of Banyan Global Family Business Advisors, without a healthy dose of conflict, family businesses “can suffer from limited growth, poor ...

The Missing Piece to Your Succession Plan – The Psychology of Relinquishment

You’ve gone through the motions of succession planning—groomed your successor, established and executed all the attorney-advised documents—and now you’re prepared to hand off your business, right? Not necessarily. Many family business ...

Survey Says: Good Governance Pays Big Dividends

The Pacific Family Business Institute (PFBI) has just released the results of its 2018 survey. With support from Cascadia Capital, Moss Adams and Davis Wright Tremaine, PFBI interviewed 81 family ...

The “Opportunist” Mindset Every Family Business Should Have

Starting your family business is a period of excitement, chance, and perseverance. Once your business has survived this initial creation period, your business’ leadership and employees must maintain an opportunist ...

Interrupted Entrepreneurship

Each generation embraces, refines, and transforms a family business. Sometimes this cycle can be continuous, but more likely it is fraught with “interruptions.” In his new book, Interrupted Entrepreneurship, author ...
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