1. What Is a Family Charter?
A family charter is a tool used to create alignment and a shared vision among the family members who decide to engage in a common project. It documents the modus vivendi among the family members, and the modus operandi of their business and non-business assets. In other words, it articulates the fundamental rules that govern the relationship among family members, their relationship with their business, and their relationship with their financial wealth.
For all intents and purposes, it is akin to an insurance policy for the family business, safeguarding the capital of a family in all its forms: financial, human, social, and intellectual.
The family charter is a by-product of the journey as outlined in this book. ...
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