ABSTRACT
This chapter presents a basic characterisation of the Family Business Governance (FBG) system and its main mechanisms, such as family meetings, a family council, a family assembly, a family constitution and a board of directors/supervisory board. It indicates the key tasks of these mechanisms. The chapter examines the experience of young Polish family firms in developing their family governance structure as well as assessing its usefulness. In analysing governance present in the family company, it is important to remember that both the company and the family are subject to continuous evolution. In analysing the operation of the FBG system, it is necessary to remember that its subsystems family governance and corporate governance functioning on various levels differ in terms of their objectives and tasks. Analysis of the experiences of participants in research on representatives of two generations of owners of young family businesses disclosed that with respect to the building of FBG structure/mechanism systems.
