The Concept of Legacy Exists at the Core of Family Business Research, Yet as a Construct, the Nature of What Legacy is and Why and How Legacy Matters Across Generations Has Been Poorly Understood (Hammond, Pearson, & Holt, 2016). This Lack of Conceptual Clarity Has Limited Legacy Research in the Domain of Family Business. In this Article, We Provide a Comprehensive Definition of Legacy that Can Be Used to Draw Connections Across Existing Legacy Research and Open New Avenues of Inquiry Critical to Understanding Both Family Firms and Legacy Itself