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All family businesses face an inescapable succession process. Succession means the process by which a family business is transferred from one generation to the next, involving most of the members of the family business, either directly or indirectly. There is an extensive literature that deals with the study of successions. In Latin America, work on family businesses stands out, although from business history the analysis of successions for this region is still scarce. This chapter aims to highlight the progress in this arena and help fill the gaps with a brief review of the main theories and debates about succession in family business. In addition to a summary of the main findings for the Latin American countries, we propose some elements for a theoretical and methodological debate in Latin America.