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Giving/selling One's Business After Retirement In Asia


allistar

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aI was listening to a radio program recently about what happens to businesses when the founder retires/dies. In the U.S., the operation of the business usually takes a decline if the children run it, as opposed to bringing a qualified outsider to run it. The program brought up Japan as a country that has a much better rate of having children run the business. It turns out that, if the children are not qualified to run the business, the owner finds a qualifed 25-30 year old Japanese man and legally adopts him. The family of the adopted agrees to this, as it brings honour to the family. As the Japanese man that described this process tells it, this would not work in many other Asian countries, like India, because the adopted would go along with the adoption but give the money to his former family. Just curious if other have any knowledge of how other Asian countries handle the problems of transferring a family business

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