Abstract This article describes conceptual, theoretical, historica! and structural aspects of family- owned companies. Their role in terms of the generation of employment and wealth is also shown. Additionally, different systems of corporative governance are analysed, which link with the topic of generation continuity. Such continuity is understood as one of the main obstacles that these companies face as their executive boards and owners cannot leave apart the role of the family and the company decisions to take. Consequently, the strategies of internationalization and professionalization pave the way to facilitate the existence of family- owned companies.