This group is especially important if the family has…

This group is especially important if the family has several ventures. The family might, for example, own a ranch and a publicly held community bank. Each has its own board. The family might also have a family office or a holding company containing a portfolio of businesses. The owners' council acts as an umbrella organization to define and integrate the goals and policies of each entity. It typically consists of family members who are actual owners (and maybe trustees of family trusts) and does not contain outside directors.

— from Family & Parenting (Family/Parenting)

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