The Trustee’s Role in an Owners CouncilThe Trustee’s Role in an Owners Council

When members of the next generation take over ownership of a business from the founder, they may fail to anticipate the challenges that will arise because ownership is now held by a group rather than a single individual. Joint decision making at the ownership level is a skill that must be learned and practiced. One way the next generation owners can manage their responsibilities is to establish an Owners Council, comprised of all owners, both managing and non-managing, to give them a proper forum for discussing ownership-related issues. Acting together as an Owners Council, the next generation owners can articulate their shared purpose and vision for the future of their ownership, as well as have a distinct voice and active role in busin...