The Power of Family Ownership

Banyan partner and Cornell University alum Rob Lachenauer joined Cornell’s Smith Family Business Initiative’s Connected Conversation to discuss why the longevity of a family business lies in how its owners exercise their decision power. He describes the five key rights of owners, including the right to make decisions about the ownership structure, governance, what value they want their company to create, how they want to share information, and how they choose to transfer the assets and ownership.