Subject category:
Strategy and General Management
Published in:
2000
Length: 2 pages
Data source: Field research
Abstract
The owner-manager of a small business, a gift and framing shop, wants to bring her daughter and nephew into the shop on a full-time basis. She has to find an appropriate legal and capital structure that will give them an incentive to join the shop and at the same time protect her own interests. The case, although short, invites students to discuss the advantages of partnership vs close corporations, problems of control and of management succession, and the necessity for both building trust and creating legal protection among parties in a family business.
Industry:
Size:
Small
About
Abstract
The owner-manager of a small business, a gift and framing shop, wants to bring her daughter and nephew into the shop on a full-time basis. She has to find an appropriate legal and capital structure that will give them an incentive to join the shop and at the same time protect her own interests. The case, although short, invites students to discuss the advantages of partnership vs close corporations, problems of control and of management succession, and the necessity for both building trust and creating legal protection among parties in a family business.
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Industry:
Size:
Small