Description

The importance of family businesses in global economies is a widely recognized issue that has generated a growing interest in its study (Dyer, 1994). There is a general agreement in emphasizing that one of the biggest problems that these companies face refers to their continuity, which implies a succession process (Handler, 1994).This article addresses this issue from the complexity of the interrelationships created between family, busi-ness and ownership, addressing the succession as a process, focusing its study from multiple points of view identified in the literature reviewed. An approach to the state of the art is initially presented on the issue of family succession. Family-enterprise sys-tem emphasizing the transition from the first to the second generation is discussed later. Issues of heritage, con-ceptualization, particular in family businesses and their implications in the process of succession are also raised.