{"title":"Family Business Challenges and their Regulations under UAE Family Business Law","authors":"Myrna Saad","doi":"10.1163/15730255-bja10169","DOIUrl":null,"url":null,"abstract":"The United Arab Emirates (<jats:sc>UAE</jats:sc>) has created a unique, comprehensive, and flexible legal framework for regulating the ownership and governance of family companies. This article examines how Federal Decree-Law No. 37 of 2022 on family businesses (the Family Business Law) addresses the main challenges faced by these companies. The article begins with an overview of the various definitions of family businesses, followed by a description of the definition adopted by the Family Business Law. The article then explores how the new law helps family businesses navigate the complexities of growth while preserving family control and the family’s long-term vision. The article further discusses the challenges associated with business continuity and analyses how the Family Business Law establishes robust corporate governance measures to support their long-term continuity and facilitate their transfer across generations.","PeriodicalId":43925,"journal":{"name":"Arab Law Quarterly","volume":null,"pages":null},"PeriodicalIF":0.5000,"publicationDate":"2024-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Arab Law Quarterly","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1163/15730255-bja10169","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"LAW","Score":null,"Total":0}
引用次数: 0
Abstract
The United Arab Emirates (UAE) has created a unique, comprehensive, and flexible legal framework for regulating the ownership and governance of family companies. This article examines how Federal Decree-Law No. 37 of 2022 on family businesses (the Family Business Law) addresses the main challenges faced by these companies. The article begins with an overview of the various definitions of family businesses, followed by a description of the definition adopted by the Family Business Law. The article then explores how the new law helps family businesses navigate the complexities of growth while preserving family control and the family’s long-term vision. The article further discusses the challenges associated with business continuity and analyses how the Family Business Law establishes robust corporate governance measures to support their long-term continuity and facilitate their transfer across generations.
期刊介绍：
The leading English-language legal publication in its field, Arab Law Quarterly covers all aspects of Arab laws, both Shari"a and secular. Now in its third decade, it provides an important forum of authoritative articles on the laws and legal developments throughout the twenty countries of the Arab world, notes on recent legislation and case law, guidelines on future changes, and reviews of the latest literature in the field. Particular subject areas covered are Arab laws in trans-national affairs, commercial law, Islamic law (the Shari´a), and international comparative law.
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