Publications for Closely Held Companies Committee

Closely Held and Growing Business Enterprises Committee Publications

The Closely Held and Growing Business Enterprises Committee welcomes articles from all members. To submit an article for publication, email the relevant committee officer.

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Governance in family businesses: navigating conflict, control and continuity

According to McKinsey (2024), 80–90 per cent of businesses worldwide are family owned and family en-terprises reportedly account for more than 70 per cent of global gross domestic product. The subject in this session was framed historically and culturally, with the family presented as a social foundation across civilisations, citing Egyptian, Babylonian, Roman, Hebrew, Christian, Islamic and Hindu traditions.

Released on Nov 4, 2026

Stakeholderism v Shareholderism

The panel explored the relationship between shareholder value and broader stakeholder interests. While companies have traditionally focused on maximising shareholder value, their decisions increasingly take account of employees, suppliers, environmental impacts and supply chains. The panel explored the approaches being taken across jurisdictions and considered whether stakeholderism represents a shift in corporate governance or a longer-term view of shareholder value, as well as the legal and governance tools available to manage these issues in practice

Released on Nov 4, 2026

Ownership by design: using trusts, foundations and holding companies to balance tax, governance and control

This panel stressed that the different forms of entities are only vehicles to help the parties get what they ultimately want to achieve, whether this is related to personal, family or business matters, maybe all of the foregoing, where different needs come into play. Perspectives ranged from Italy to Australia, and from Norway to Singapore

Released on Nov 4, 2026

Optimising the capital stack for closely held companies

This IBA Annual Conference panel opened with a discussion about how closely held companies should choose among the wide range of financing options now available to them, featuring perspectives from Estonia to North America.

Released on Nov 4, 2026

Directors in the age of AI: oversight and risk in closely held companies

The panel began by considering whether artificial intelligence (AI) creates new responsibilities for directors. A broad consensus emerged that AI changes a company’s opportunities and risk profile, but does not require an entirely new concept of board responsibility. Management must identify and manage material AI risks, implement controls and report upwards. The board must ensure that the organisation is capable of doing so, receive decision-useful information, challenge management and respond when significant weaknesses emerge.

Released on Nov 4, 2026

Cross-border deals for closely held companies

The panel examined how advisers to closely held companies can structure cross-border transactions and partnerships to reduce friction, focusing on the missteps that arise when US-style agreements are deployed in non-US deals. This panel features perspectives from the Netherlands to Mexico, and from Uruguay to Beijing.

Released on Nov 4, 2026

Session report from the 9th Global Entrepreneurship Conference in May 2025: How closely held companies are managing risk and uncertainty in a constantly evolving environment

This article provides a summary of the session titled ‘How closely held companies are managing risk and uncertainty in a constantly evolving environment’, held at the 9th Global Entrepreneur-ship Conference. The panel convened to discuss the biggest risks, externally and internally, for closely held companies in uncertain times, and how closely held companies can prepare for such challenges.

Released on Oct 21, 2025

Interactive workshop one: selected corporate governance topics (part I), 13 May 2024

After a brief introduction of the six main topics and the corresponding moderators by the chairpersons, the auditorium was divided into a total of 12 tables, two tables with one moderator per topic. The moderators had each prepared their topic in advance with a list of questions so that the results of the two tables per topic were comparable. The results were then compared and summarised by the moderators after a discussion lasting around 30 minutes. The results thus obtained were then presented by the moderator teams for each topic.

Released on Aug 11, 2024

Report – 8th IBA Global Entrepreneurship Conference: Venturing and Discovering Overseas Markets

Shaw writes up a report of the ‘Trends in corporate and venture capital to fuel growth of disruptive businesses’ session form the 8th Annual IBA Global Entrepreneurship Conference. Shaw provides a helpful breakdown of the panellists’ insights and responses to questions given during the session.

Released on Aug 11, 2024

A general counsel’s view: supporting business and hedging risks in overseas markets

In this session, a panel of general counsel shared insights on how they are safeguarding business operations in overseas markets and how legal strategies can be used to effectively hedge risks, ensuring a robust legal framework that fosters success in the international field. More precisely, the question addressed by the Co-Chairs was to find out ‘What is the work of the general counsel within the process of internationalisation of the business and how does it impact on the relationship with external counsel?’. The panel addressed compliance issues and how to manage risks, conflicts and litigation.

Released on Aug 11, 2024

Corporate investors: panel report

The panel discussed the benefits and perceived drawbacks of investments by strategic investors, as compared to traditional financial or sectorial venture capital (VC) investors. The speakers highlighted the difference in investment horizons, noting that strategic investors generally prefer longer term investments, while financial investors typically seek to exit the business after three to seven years.

Released on Aug 11, 2024

The new now: building resilience in a world where change is the only constant

Elke Geraerts is the founder and CEO of Better Minds at Work, an international consulting company supporting organisations in their wellbeing, performance and leadership. She has a PhD in psychology and held academic positions at Harvard University, the University of St Andrews, Maastricht and Rotterdam. She is the author of several bestselling books, such as Better Minds: How Insourcing Strengthens Resilience and Empowers Your Brain and The Mental Reset: How hybrid work and life strengthen your resilience.

Released on Aug 11, 2024

Inorganic growth through acquisitions and strategic alliances

The session focused on the expansion strategies of companies through acquisitions and alliances, emphasising the strategic and legal aspects that influence growth. It covered the motivations behind inorganic growth, such as increasing production capacity, accessing new markets and acquiring strategic assets. Trends in investment jurisdictions and sectors, including the impact of geopolitics, were examined. The discussion also highlighted the importance of cultural understanding and local legal expertise in managing cross-border transactions. The role of foreign direct investment (FDI) restrictions and how companies navigate these challenges was also addressed. Overall, the session provided insights into the complexities of inorganic growth and the factors that companies must consider when pursuing such strategies.

Released on Aug 11, 2024