In most European countries, around 85–90% of all enterprises are family firms, which contribute
to 80% of GDP and account for 70% of employment. However, only 20% of the family firms survive until the third generation. Already these first figures show the crucial importance of intergenerational succession in family firms. Such change of control processes exhibit different features and means of accomplishment. However, all of them require an interdisciplinary approach to the relevant theoretical and practical issues, with a proper handling of succession law, corporate law and the fundamentals of management and finance. This seminar, interconnecting researchers with different specialization, shall shed light on recent developments in this research field. From the perspective of succession law, the focus is primarily on intra-family private ordering mechanisms or will-substitutes, aiming at a smooth and efficient control change without running into the mandatory rules on inheritance. In corporate law, the attention is focused on the change of control towards external private equity funds, where the successful structuring of the deal is heavily dependent on the contractual arrangements (i.e. by-law provisions) in place. In order to register for the event please click on the "Download" link above.