Family Business Governance and Family Constitution
Family Business Governance and Family Constitutions
Separate the family conversation from the boardroom conversation, so decisions about the business are made on business grounds.
- Advocates & Solicitors
- Offices in Kuala Lumpur & Johor Bahru
- Confidential, no obligation
Real lawyers, one team behind every matter
Who this is for
Sound familiar?
Families running a business across more than one generation
Founders planning a handover to children or other relatives
Family shareholders with differing levels of involvement in the business
Families where some members work in the business and others only hold shares
Businesses wanting to formalise entry, employment and exit rules for relatives
What's at stake
What is really at stake
- 01A family business runs on relationships that predate it.Roles are inherited rather than appointed. Difficult conversations get deferred because they are difficult at home as well as at work.
- 02As the family grows, so does the ambiguity.Which relatives can join the business and on what terms. Who gets shares — those who work in it, or everyone. How a family member who wants out converts shares into money. Whether the next generation is entitled to a seat or has to earn one.
- 03None of these are legal questions until they are, and by then a disagreement between shareholders is also a disagreement between siblings.Family businesses rarely fail from bad trading. They fail from unresolved questions about ownership and entry.
In plain words
Family Business Governance and Family Constitution
A framework separating family, ownership and management — a family constitution setting out shared principles on employment, ownership, dividends and entry, supported by the legal instruments that give it effect: the company constitution, a shareholders agreement, transfer and transmission provisions, and board and family council structures.
What good looks like
Imagine a family where the rules on joining the business, holding shares and exiting are written down and were agreed before anyone needed them. Board meetings deal with the business. Family meetings deal with the family. Disagreements are resolved by reference to something both sides accepted in advance.
What you get
What we deliver
Scope and fee are agreed in writing before any work starts, so you know exactly what you are getting.
- 01
Facilitated family discussion to establish shared principles
- 02
Family constitution covering employment, ownership, dividends and entry
- 03
Company constitution and shareholders agreement aligned to it
- 04
Board and family council structures with defined interaction
- 05
Transfer, transmission and exit routes for family shareholders
How we work
Clear from the first conversation
- 1
Send a short request
Tell us what the matter is about. It takes under a minute and stays confidential.
- 2
Akmal sets a time with you
We reply within 30 minutes in office hours to arrange your consultation, online or at our KL or JB office.
- 3
Advice, then a written proposal
You get a clear view of the issues and options, then a written scope and fee proposal.
- 4
Work begins on the agreed scope
Akmal leads the matter with a team of our lawyers, working to the scope you approved. You get regular updates at every key step.
Who leads your matter
Led by Akmal Saufi, supported by our team
Akmal leads your matter as Partner. Depending on the work, other lawyers in our team handle parts of it day to day, with Akmal overseeing the matter.
Akmal Saufi
Partner, Messrs Akmal Saufi & Co
- Advocate & Solicitor, Malaysia
- Over 13 years in transactional work: M&A, joint ventures, land and infrastructure
- LLB (Hons), International Islamic University Malaysia
The team behind your matter
Meet the team →Who we have acted for
Organisations we have acted for
Federal government agencies & statutory bodies
Johor state bodies & local authorities
Government-linked companies
Private sector & NGOs
Shown with permission. Government agencies, statutory bodies and government-linked companies are identified as such. Their inclusion does not imply endorsement by any government, ministry or agency.
Next step
Request a consultation with Akmal
- 1Send a short request. It takes under a minute.
- 2Akmal reviews it and arranges a time with you.
- 3You get clear advice, then a written scope and fee proposal.
We reply within 30 minutes · Mon–Fri, 8:30am–5:30pm
Your details stay confidential. Sending a request does not mean you have appointed us.
- Licensed advocates & solicitors
- Professional indemnity insured
- Offices in KL & JB
Questions
Frequently asked questions
Still unsure? Send a short request and Akmal will tell you plainly whether and how we can help.
Is a family constitution legally binding?
Should shares go to children who do not work in the business?
Can we set rules on relatives joining the business?
What if the family cannot agree?
How does this fit with individual wills and estate planning?
What is Legal That Works?
What if I’m not sure what legal service I need?
Who will be helping me?
Before you sign
The cost of waiting
A family constitution is agreed most easily before there is a disagreement to resolve. Afterwards, every clause is read as being aimed at someone.
We reply within 30 minutes · Mon–Fri, 8:30am–5:30pm
