Family Business Glossary: The Language of Family Business

Family business is a world with its own vocabulary. Terms such as charter, cousin consortium and third generation curse are used often within the sector, yet they are rarely explained in one place.

This glossary brings that language together in a single, accessible reference. Compiled by Family Business United, it includes well over two hundred entries covering governance structures and frameworks, succession and ownership, legal and technical terminology, family dynamics, leadership, wealth, and the values and behaviours that shape family business life.

Each entry is written in plain English, with definitions designed to be a starting point for understanding and conversation rather than a rigid rulebook.

Whether you are a family member new to formal governance, a next generation leader preparing to step into these conversations for the first time, or an advisor working with family business clients, this glossary offers a shared vocabulary to help you navigate the challenges and opportunities of ownership and succession with confidence.