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One of the Distinguishing Characteristics of the Family Business Is

question 73

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One of the distinguishing characteristics of the family business is that if the business stops growing, then the overlap of family, management, and ownership will leave the business helpless during succession.


Definitions:

Incorporator

An individual who applies for incorporation on behalf of a corporation.

Promoters

Individuals or companies that initiate and take the responsibility for setting up a business or company.

Government

The organization, or the apparatus, through which a political unit exercises authority and performs functions and which is usually classified as parliamentary or presidential.

Public Corporation

A corporation that is created by government to help administer law.

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