A family business is a business in which one or more members of one or more families have a significant ownership interest and significant commitments toward the business overall well-being. In some countries, many of the largest publicly listed firms are family-owned. More than 40% of the publicly listed firms in the world are family owned. 15% of the revenues of the top 30 enterprises in the world come from 3 familyrun businesses – Wal Mart (United States), Samsung (Korea) and Toyota. In fact, 175 of the world’s top 500 firms are currently family-controlled. Among the largest public companies listed in the US, 40% are family businesses and as of July 15, 2012 China had 684 A-share listed family-owned companies, which accounted for 49% of the total listed privately-run companies in the country.