the.com/family business
where thanksgiving dinner doubles as a shareholder meeting.
means a company owned and run by members of the same family, where blood ties and balance sheets fight for the head of the table.
from predates corporations entirely — before limited liability existed, the family unit was the only trust structure sturdy enough to survive death, debt, and disaster; the modern term just gave a name to what humans always did.
global gdpfamily firms generate over 70 percent worldwide
succession oddsonly about 30 percent survive to third generation
biggest examplewalmart is still majority walton-owned