Approximately 70% of Family Businesses Fail or Are Sold Before

question 11

True/False

Approximately 70% of family businesses fail or are sold before the second generation reaches a position to take over.

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Definitions:

Liable

Responsible by law; legally obliged to compensate for harm or loss caused.

Legal Endorsement

Approval or sanction by a legal authority or body.

Misspelled Name

An error in the spelling of a name, often causing confusion or issues with identity or documentation.

Electronic Fund Transfer Act

A United States federal law designed to protect consumers engaging in electronic transfer of funds.