familyownedbusinessblog

FFI-Goodman Study on Longevity in Family Firms

A group of researchers associated with Family Firm Institute (www.ffi.org) are revisting the assumptions regarding survival of family-owned business. The unchallenged statistical standard is that 30% of firms survive through the 1st generation, 13% through the 2nd and only 3% through the 3rd. Little is known about the accuacy of these figures. That is about to change. To accomplish the task at hand, the researchers need help from family-owned business. They are asking for the highest ranking member within the business to complete a survey. That survey is located at www.LongevityStudy.org. 

Please feel free to pass this website along to other families. If you have any questions please contact Kay Abramowitz at Ater Wynne.

Family-owned business defined

According to Family Firm Institute (www.ffi.org) family-owned businesses are the dominant form of business organization worldwide and play a leading role in the social and economic wealth creation wherever they are located. That's why we at Ater Wynne have launched this new blog designed to help this crucial segment of the economy succeed.

So what is a “family-owned” business? There are several definitions out there but my working definition is a business in which one or more related family members substantially influence the business decisions. My definition is similar to the definition found in Consulting to Family Businesses. There the authors, Jane Hilburt-Davis and Gibb Dyer, define a family business as 'an organization where ownership and/or management decisions are influenced by a family (or families)'. 

These broad definitions allow for the inclusion of businesses that might otherwise be excluded from the attention of advisers and policy makers when advising and applying best practices.

State or Federal Trademark Protection?

As a business owner, you can protect your valuable trademarks (words or symbols that identify the source of your products or services) either under state or federal law.  A state trademark registration will only protect your business within the state and, therefore, if a business adopts and uses a similar trademark to sell similar products or services elsewhere in the United States, you will not likely have a claim for infringement outside of your state.  On the other hand, a federal registration will provide protection in all 50 states and the territories of the United States, even if your business does not operate in locations outside your area.  One of the requirements for federal protection is that your business must sell its goods or services to customers in "interstate commerce" across state lines. If you wish learn more about filing a state or federal (or international) trademark application, please contact me.