FAMILY FOUNDATIONS IN POLAND - FROM FAMILY BUSINESSES TO GENERATIONAL SUCCESSION
FAMILY FOUNDATIONS IN POLAND - FROM FAMILY BUSINESSES TO GENERATIONAL SUCCESSION

Summary/Abstract: The main aim of this study is to present the current possibilities of succession of so-called "family businesses." The authors attempt to explain what a family business is, in light of the lack of a clear and legal definition in legal regulations. The topic of "intergenerational succession" is also addressed, which, outside of the linguistic sphere, has not been included in any legal definition in the legal order. The paper concludes with a description of the assumptions regarding the establishment of family foundations, their purpose, and characteristic features. The authors also point out the issues distinguishing family foundations and the main assumptions regarding their functioning in the current legal turnover. The necessary conditions for establishing family foundations are also described. The authors present the possibilities of succession of family businesses before and after the entry into force of the Act of January 26, 2023, on family foundations.

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