"**Intangibles like these—partnership, generosity, fairness—glue family businesses together**. Along with valuing soft factors, such as family identity and legacy, these traits help family firms prosper indefinitely, as founders go, second-generation siblings join, and third-generation cousins come to be co-managers. **[[Berkshire Hathaway|Berkshire]] seeks out family businesses whose members prize such qualities and offers them autonomy and permanence**. The mutual payoff is a durable, multi-generational family business. ([Location 2125](https://readwise.io/to_kindle?action=open&asin=B00K33E460&location=2125))" --- **Tags** -- [[quotes]], [[organisational-culture]] , [[intangible-assets]] , [[reputation]] , [[character]] , **Source** -- [[202407260951 - B - Berkshire Beyond Buffett]]