Family And Company Constitution Preparatıon

Family and Company Constitution Preparation Services

Today family owned business model is a widely existential concept both in our country and the rest of the world alike. The main problem in companies where family members share the company ownership is that there is not a written or even sometimes verbal agreement available between family members with regards to the code of conduct resulting in conflicts between family members thus harming the company and even in a worst case scenario lead the company to go out of business. As wherever there is a human being involved complicity and problem should be expected, it is vitally important both for individuals and the company that these codes should be clearly and fairly structured in a way to look after interests of all sides and ensured to be completely complied with.

We, as Albert Solino regulate those relationships between family members by detecting the vulnerable points. All details from spending habits of the family members to regulating relationships between family members and professionals, from succession management to the structure of family council and board of directors and interaction of those with each other are mutually discussed and decided together. Thereafter all decisions are designed and prepared into a written and constitutional form in line with modern management principles and Capital Market Corporate Governance Legislations. We monitor the constitution to be come into effect and follow-up the compliance to make the constitution a permanent system and an integral part of the corporate culture of the company.

Albert Solino Family Owned Business Services is structured to serve family owned business in all their related fields with an integrated approach by benefiting from the large resources of the global companies we own. Our main goal is the policies regulating how the family and the business interacts, as a whole. Family constitution is a live document that should be flexible in content and should be regularly reviewed in order to fulfil the needs of family and business.
Albert Solino Family Owned Business Constitution Preparation Consultancy: Business Plan

1-Determination
•    Review and determination of the communication between family members
•    Determination of management and decision making process
•    Determination of how financial and monetary issues are handled
•    Determination of the targets set by the family and the structure to realize the set targets.

2-Analysis:
 Determination and analysis of the required rules and responsibilities for the institutionalization of family relations.

3-Implementation
Mutual evaluation of family relations and company related issues, preparation of family constitution in line with needs and scope.

4-Continuous Improvement
Start up and follow up of the constitution in order to make It a permanent system and an integral part of the corporate culture

Family Owned Business Constitution Main Content
Section.1: Family Owned Business Basic Principles 

•    Reason
•    Goal
•    Principles
•    Family and Corporate Culture
•    Family Traditions
•    Family and Business Vision

Section.2: Family Council

•    Establishment of family council and membership conditions
•    President of the family council and presidency conditions
•    Family council meetings, decisions and vote ratios
•    Other work of the family council members
•    Family council dividend payment criteria

Section.3: Management Principles of Family Members and Professionals

•    Relations Between Family Members
•    Measuring the Competency of the Family Members with the Use of Personality Tests
•    Family Members to work at the Family Business
•    Family Members to Enter the Board
•    Family Members to Enter the Management
•    Assigning Chairman of the Board
•    Family Council and Board relations
•    Professional Management
•    Limitations of Family Members’ Authority and Responsibility
•    Separation of Family and Business Goals
•    Approach towards Staff and Professional Managers
•    Setting Performance and Performance Measuring Criteria for Family Members

Section.4: Preparation of the New Generation to Management and Ensuring Continuity in the Family Owned Businesses

•    Training of the New Generation
•    Subrogation Criteria
•    Measuring the competency of the successor by the use of personality tests
•    Establishment of training and career plans based on competency and determination of professional competency

Section.5: Arrangement of Family Members’ Income and Expenses

•    Income of Family Members
•    Expenses

Section.6: Ownership

•    Share Valuation Methods
•    Share Transfer Methods

Section.7: General Terms

•    Ethic Codes
•    Determination of Sanctions on complying with Constitution
•    Settlement of Disputes

Albert Solino is an international company of consulting, technology and corporate finance. It provides system to customers by way of management consulting and public offering.Contact us for consultancy support services and innovative solutions.