Research On The Legal Issues Of Inheritance In Unlisted Family Companies

Unlisted family companies are the main body of family businesses in China.They not only have the common characteristics of family businesses,but also have their unique characteristics,such as high concentration of equity in the hands of business owners,chaotic property rights,and large amount of intangible assets.However,because of its uniqueness,it also has special practices and problems in the inheritance of enterprises and enterprise property.It is embodied in three aspects:subject,object and inheritance mechanism.In the subject,there are the problems of too many first-order successors leading to the outflow of property and the uneven division of property among the successors leads to conflicts.So legislation should improve the existing marital property system and the provisions of legal succession sequence,and at the same time business owners should make early succession arrangements,distinguish between the "inheritance" of management rights and equity inheritance.On the object,there are problems of unclear division of family common property and intangible property.As a result,part of the property of the co-owner was divided and part of the intangible property was not inherited.In this regard,for the common property of the family,the reasons for division should be detailed and the rules for division should be specified;for intangible property,the intangible property that can be inherited should be specified and the intangible property that cannot be inherited should be planned as early as possible.Finally,in terms of the inheritance mechanism,there are some problems of unclear validity and insufficient legal regulations of the family charter and family conference.In this regard,the family charter system must be gradually improved to provide conditions for its smooth development;at the same time,the nature of family meetings and the effectiveness of family resolutions should be specified.