Discuss the Challenge of Succession Faced by Family Businesses

question 30

Essay

Discuss the challenge of succession faced by family businesses.

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Definitions:

Avoid

To keep away from or prevent something from happening, often used in legal contexts regarding contracts or obligations.

Incompetents

Individuals who are legally declared unable to manage their own affairs due to mental incapacity, age, or other reasons, requiring a guardian or conservator.

Intoxicated Persons

Intoxicated persons are those under the influence of alcohol or drugs to a degree that impairs their ability and judgement, impacting their legal capacity in certain contexts.

Intoxicated

Being intoxicated refers to a state of impairment due to the consumption of alcohol or drugs, affecting a person's mental faculties and physical coordination.