Family Law and Entrepreneurial Action

Smith, D. Gordon

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Family Law and Entrepreneurial Action

2016 Ohio State L. Rev. Furthermore 31

BYU Law Research Paper No. 16‐07

11 Pages Posted: 24 Mar 2016

See all articles by D. Gordon Smith

D. Gordon Smith

Brigham Young University - J. Reuben Clark Law School

Date Written: March 22, 2016

Abstract

In "The Contractual Foundation of Family-Business Law," Benjamin Means aspires to lay the groundwork for a law of family businesses. In this brief response essay, I suggest that a workable family-business law along the lines suggested by Means is consistent with an overarching policy in the United States of promoting entrepreneurial action, and I evaluate the proposal against this policy goal, with particular attention to Means’s arguments in favor of “family-business defaults” and his concern over the potentially disruptive role of fiduciary law.

Keywords: law and entrepreneurship, family law, fiduciary law, closely held businesses, contract, family-business law, corporate law

JEL Classification: K12, K22, M13

Suggested Citation: Suggested Citation

Smith, D. Gordon, Family Law and Entrepreneurial Action (March 22, 2016). 2016 Ohio State L. Rev. Furthermore 31, BYU Law Research Paper No. 16‐07, Available at SSRN: https://ssrn.com/abstract=2753140