The public often view family-owned firms as more trustworthy than their non family-owned peers, but this faith can wane when the firm passes from the founder's hands to the next generation.
Entrepreneurs — especially those with a rags-to-riches story — are often admired for their drive, ambition and strong personality, leaving the next generation with a hard act to follow.
To boost faith in successors and the continuity that they will provide, some firms publicly state their "family" values.
"The word family often comes with 'values,' so therefore it is very important for the firm to articulate their values as a family. This is part of the success and longevity of the business," said Maya Prabhu, a managing director at Coutts Institute, told CNBC in a 2014 interview.