It’s not easy when you mix family and business. Sure, it might be fun to work with some of the people you love and know best. But, what happens when things go sour? When you stop seeing someone as your own and instead, see them as business associates? Think about high-profile cases, like the Ambani or Hinduja family sagas. When the “la familia es todo” principle is disregarded and discarded, what remains? At what point does a family need outside parties to step in for governance, negotiation and communication? Could there still be inclusive processes that foster cohesion among stakeholders? Does family conflict call for a living document for families, the way the Constitution exists for a country? Are there ways to resolve differences without corroding a family legacy or is discord, sometimes, inevitable? Is honest conflict better than dishonest harmony?
In this episode of CAM Radio – Clear Cut, our Partner (Co-Head – Private Client) Radhika Gaggar and our Partner Shaishavi Kadakia explore the emotionally charged landscape of family disputes, how emotions of the relationship might colour communication, what prove to be the catalyst to, unfortunately, sacrificing familial bonds, how the demise of a senior family member is one of the most common triggers that lead to family office disputes, indecisions in succession planning, how oral understandings amongst families might get dishonoured, how women are claiming their seat at the family business table to challenge traditional male-dominated processes, warring claims between family members and non-family members, how matrimonial disputes might be the most bitterly-fought adversarial litigation in India, when to engage a family business counsellor and when to engage a neutral third-party, how conflict resolution and a review process are some of the most important elements of a family constitution, whether there’s even a legal basis for family settlements, how a facilitative mindset amongst conflicting family members tends to yield more productive results, why family members should weigh the downsides of a family dispute versus the upside of maintaining one’s demands, why you shouldn’t solve disputes over a family WhatsApp group and more.
