TY - JOUR T1 - Factors Critical in Overcoming the Liability of Newness: <em>Highlighting the Role of Family</em> JF - The Journal of Private Equity SP - 38 LP - 48 DO - 10.3905/JPE.2009.12.2.038 VL - 12 IS - 2 AU - Clay Dibrell AU - Justin B Craig AU - Ken Moores AU - Aaron J Johnson AU - Peter S Davis Y1 - 2009/02/28 UR - https://pm-research.com/content/12/2/38.abstract N2 - With a focus on the role of family, we explore factors critical in enabling start-up ventures to attain legitimacy and overcome the liability of newness. Drawing from multiple interviews with leaders of seven start-up ventures, we investigate the function of a variety of factors [e.g., family, distributors, financial supporters, etc.] deemed critical in attaining venture legitimacy. To validate our findings, we conducted additional interviews with three established family ventures. Our discussion highlights the role of family as a legitimizing strategy and provides an increased awareness of how internal and external resources are leveraged by the start-up to gain legitimacy.TOPICS: Private equity, in portfolio management, quantitative methods, developed ER -