David Devesa serves as co-founder and chief executive officer of a law firm that began in Alicante and now operates on a national level, focusing on labor law. He founded the firm in 2007 after several years as a commercial lawyer with the North American multinational PwC. Today the practice maintains offices in Alicante, Madrid and Valencia and has grown to a multidisciplinary team of more than 26 professionals.
Devesa holds a law degree from the University of Alicante and a Master’s in Business Legal Consultancy from Madrid’s IE. He serves as an independent board member for listed company FacePhi, and is on the boards of construction group Llorca and Chocolates Marcos Toda. He also helped launch Dentol Capital, a family office that invests alongside multiple funds to grow and finance ventures. Notable holdings include Laminar Pharma, Marsi Bionics and Poseidon Hotels. In 2022 he received the Holy Alumni distinction from the University of Alicante, and he was recently named Lawyer of the Year in Family Business Law by the International Best Lawyers directory. (Source attribution: University affiliations and professional recognitions.)
expressing gratitude for the Best Lawyers award, he noted that the winners in each category are determined by anonymous votes from his peers, making the honor particularly meaningful to him. (Source attribution: peer-voted recognition.)
Regarding family entrepreneurship, the term describes owners who hold a controlling share of voting rights and capital, with active participation in management or governance. When such a business is publicly traded, control is typically defined at 25 percent of the capital. This definition aligns with the Family Business Institute and has influenced European legislation in the area. (Source attribution: Family Business Institute.)
Indeed, merging family dynamics with business presents a distinct set of challenges compared to non-family firms. Management, ownership and family relationships must be balanced to prevent disengagement and internal conflicts. In this context, a family business protocol and a Family Council, a body that oversees and mediates between family members and the business, become essential.
Moments of generational change remain especially delicate; in Spain, seven out of every hundred companies reach the third generation. The central challenge is succession, and planning is the key technique to address it. A core issue for the family protocol is detailing how succession will be handled. The main factor for a smooth transition is active participation by the outgoing generation alongside the incoming one, ensuring the process remains steady and legitimate rather than traumatic.
In major family firms, it is vital that family members can access board and management roles based on merit and well-defined career criteria rather than purely emotional ties. Mixing ownership with management without objective criteria can lead to serious consequences for the family business. Humility and responsibility among family members are essential to avoid overreaching or taking roles beyond one’s qualifications.
Every family enterprise is unique, and neither universal concessions nor simplistic fixes will suffice. A well-crafted family protocol typically covers questions such as the formation and functioning of the Family Council, criteria for admitting or removing family members from company affairs, and how succession is managed. It also addresses share or subsidiary valuations in exits and determines whether third parties may become shareholders. (Source attribution: best practices in family governance.)
Drafting a family protocol is a long, collaborative process that requires clear and continuous communication within the business family. The best moment to begin is when relations are constructive and fluid. If tensions run high or conflict has escalated, alternative mechanisms for partner separation may be necessary. A family protocol helps prevent disputes, but it is not a guaranteed remedy when conflicts are already out of control.
Further information is available about Devesa and Calvo Abogados.