The sometimes excessively cordial euphemism for it is that someone, or some thing, is a “legacy.”
No, not like the young people who can expect to be admitted to the best schools — or worst fraternities — because their parents or older siblings went there, too.
Like a term applied to businesses, sometimes whole industries, that once ranged from successful to bestriding the globe, and now are being eaten away like so many dinosaur eggs by packs of upstart proto-squirrels.
Folks representing such economic sectors reach out to newspapers from time to time to seek our support.