The FERRERE Paraguay family business team, led by the partner Carlos Vasconsellos, and the practitioners Maurizio De Oliveira, Fernanda Benítez and Estefanía Mendoza, advised and accompanied the Coronel González family on the process of preparing and signing an document to govern the family’s relations, known as a “family protocol.”
The Coronel González family owns Chemical Center, a well-known enterprise in the cleaning and cosmetic products industry. The company specializes in chemical inputs for this industry, acting as distributor and fractionator in the national market. The company also is part of the My Perfume group, engaging in the sale of perfumery inputs and end products. Finally, the Coronel González family has ventured into the livestock area, with projections for cattle breeding and fattening.
The purpose of a family protocol is two-fold, unlike other types of corporate instruments. First, it aims to recognize, among members the family business, the features, values and history, both of the family and of the company, and, from there, establish agreements that reflect the reality of each business family, serving as guidelines for reaching business objectives. The objectives vary from case to case, and may include professionalization, development and growth of the family business, in line with each family’s particular needs. Second, beyond business aspects, the family protocol seeks to preserve the relationships among the family members, maintaining harmony and establishing mechanisms for steering generational transition processes, so as to ensure continuity of the family business over time.
FERRERE offers an innovative approach for creating such instruments, which guarantees achieving a document tailored to each business family, generating channels for dialogue to address both family and business matters, in addition to recommending best practices to help each business family achieve its objectives and, above all, to transcend over the years, from one generation to another.
After completing the process, Elva Coronel, general manager of the Group’s companies, noted: “The protocol is an essential element for family unity, and is fundamental for achieving our objective of business growth.” In turn, Pedro Coronel, the Group’s marketing manager, pointed out: “The protocol will give us clear rules to allow us perdure over time, as a company and as a family.”