The metaphor of Ulysses and Aeneas reveals why so many family businesses succumb during times of transition and how modern leadership should approach the perpetuation of its legacy.


Leaving the cinema recently after watching a new adaptation of *The Odyssey*, I felt compelled to revisit Homer’s classic alongside Virgil’s *Aeneid*. Viewing these works through the lens of corporate law and business management, it becomes evident how classical literature illustrates—with timeless precision—the reasons why great enterprises either thrive or crumble across generations.

In *The Odyssey*, we follow the saga of Ulysses, an extraordinary leader swept up in a war he did not choose. His tragic return to Ithaca stems not from a lack of courage, but from misguided choices, a failure to assess the journey's risks, and discouragement in the face of overwhelming forces. The outcome is dramatic: Ulysses loses his entire crew, and upon returning alone, finds his household in disarray, his wealth squandered, and his son defenseless against the rapacity of invaders.

How many family businesses mirror the journey of Ulysses? Visionary founders dedicate decades to fighting the market's daily operational battles yet neglect the internal management and governance of their own "house." By making decisions without proper planning or risk mitigation, they witness the fragmentation of their teams, the erosion of their assets, and the vulnerability of their heirs.

In contrast to the turbulent return to Ithaca, *The Aeneid* offers an opposing perspective on continuity. Faced with the collapse and destruction of Troy, Aeneas realizes that his people's survival lies not in clinging to ruins, but in the ability to forge new paths. A work of art has immortalized the hero in an emblematic gesture: fleeing a burning city, he carries his elderly father, Anchises, on his shoulders while leading his young son, Ascanius, by the hand.

This image holds a profound lesson on continuity for the contemporary corporate world. The father on his shoulders represents sacred respect for the history, values, and efforts of the founding generation. The son held by the hand symbolizes the responsibility to prepare and guide the next generation so they may walk with autonomy. Aeneas, standing at the center, embodies the leadership of the present—responsible for making the strategic decisions that bridge the past and the future.

In a challenging economic landscape marked by rapid technological transformation, the lesson drawn from the classics is clear: corporate longevity demands more than operational resilience. It requires the foresight to put one’s house in order before the storm hits, replacing the improvisation of Ulysses with the forward-looking vision and capacity for reorganization demonstrated by Aeneas. Safeguarding the assets that have been built and paving the way for those who follow is not merely a matter of legal prudence; it is the true dividing line between a fleeting business venture and the creation of an enduring legacy. Alessandro Spiller,