Problems of the Continuation of Family Entrepreneurship in Inheritance

Relevance. The most important task that needs to be solved in the legal regulation of inheritance of property used in family entrepreneurial activity is to ensure the possibility of continuation of such activity, including through its possible transformation into other forms. The need to balance the interests of all stakeholders, including in the continuation of family business or its termination on agreed terms is justified.
The purpose is to develop proposals for solving the problems of the continuation of family business activities in the inheritance.
Objectives: to determine the rights and obligations of participants in the family business when inheriting; to form models for solving problems of the continuation of family business when inheriting; to establish the ratio of family and inheritance law when running a family business.
Methodology. In the research we used methods of analysis and synthesis, comparative analysis, formal-legal, interpretation of legal norms.
Results. The success of a family business requires stable, professional management of the business. Depending on the preservation of fiduciary relations between the participants of family entrepreneurial activity, problems arising in succession can be solved in two ways: coordination of the redistribution of functions, and in their absence - transformation of activities by changing the forms of its implementation, the order of decision-making.
Conclusion. The issues arising may be resolved by concluding an agreement between the parties concerned, determining the procedure for conducting family business activities, including in the case of its continuation in case of inheritance of property used in carrying out such activities. Such an agreement may determine the procedure for transformation of family business activities in the event of changes in the composition of its participants or ownership of the property used.

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