• Keeping Secrets In The Family Business
  • December 22, 2003 | Author: Lee S. Piatt
  • Law Firm: Rosenn, Jenkins & Greenwald, LLP - Wilkes-Barre Office
  • At an early age, most of us learn that it is extremely difficult to keep secrets in a family. Mothers and fathers tell each other most things ¿ often deliberately as a way to assure the family's proper function. Siblings, too, share information for a variety of reasons. Generally, at least one family member is naturally gregarious and seems constitutionally incapable of keeping a secret. Others can keep secrets much of the time, but may find it difficult to do so in times of crisis. Thus, the vital importance of keeping secrets in today's business world runs counter to much of our family experience. As direct or indirect shareholders in a family business, family members feel entitled to know a great deal about what goes on in a business and often feel entitled to share such information with others.