Jurisdiction(s):
United Kingdom

Family business governance: separating family and ownership roles; structuring family assemblies and councils; policies and alignment with corporate governance

Published by a LexisNexis Corporate expert

Practice notes

Principle 9

In March 2010, the European Confederation of Directors' Associations (ecoDa) released Corporate Governance Guidance and Principles for Unlisted Companies in Europe. It sets out 14 principles that family enterprises can adopt in a staged or phased way to shape a governance framework suited to their needs, considering the company’s size and the ownership group’s complexity.

Principle 9 champions sound governance in family-controlled businesses and recommends putting in place family governance mechanisms that encourage coordination and mutual understanding amongst family members, whilst also organising the relationship between family governance and corporate governance.

This reflects the long-accepted view in the family business field that any strategy seeking to optimise a family’s financial, intellectual and social wealth must include practical guidance on governing the family well. Yet the ecoDa guidance unfortunately blurs ‘family’ with ‘owners’. These are separate interests that require distinct governance: not all family members will be current owners, and not all owners will necessarily be family...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Ken McCracken

Ken is recognised as one of the leading family business consultants in Europe. His work focusses on helping family businesses and family offices create the type of governance that will help them to achieve their version of success. Ken is also actively involved in advocacy to improve the overall awareness of the economic and social contribution made by enterprising families. He a Fellow of the Family Firm Institute (FFI), the leading international organisation for family business professionals and academics and is the author and teacher of the Advanced Certificate in Family Business Advising for the Society of Trust and Estate Practitioners (STEP). He is a past recipient of the FFI Award for Outstanding Interdisciplinary Achievement and the STEP Award for Family Business Adviser of the Year. ...

Web page updated on 22/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...