The most common option is to share ownership by giving each child shares in the company. An appropriate shareholders' agreement will help clarify how the business is to be run and minimise the risk of conflict (see question 7).
Where several children want to take an active role, or family members have different views on the future direction of the business, an alternative may be to split the business into separate companies. This avoids the complications that can arise when brothers (and sisters) manage a business together.
