In family-owned businesses,the board of directors can only be comprised of family members.

Name: In family-owned businesses,the board of directors can only be comprised of family members.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

While family members can certainly make up some or all of the board of directors in a family-owned business, it is not a requirement. Depending on the structure of the company, outside directors or experts in a certain field may be brought in to provide independent advice and guidance.

In Family-Owned Businesses,the Board of Directors Can Only Be Comprised