First-Ever Survey of Northwest Family-Owned Businesses Reveals a Dramatic Gap in Preparation to Leave a Family Legacy.

SEATTLE -- Conference in Seattle on September 22 features survey results, additional exploring of key questions facing family-owned businesses

Note to Editors:

The preliminary results from a ground-breaking survey of Northwest family businesses are both interesting and in some ways startling. Family businesses are a mainstay of our economy, but until now have been little understood or analyzed. The Family Business Symposium (funded by Laird Norton Company in celebration of its 150th anniversary as a Northwest family-owned enterprise) is an attempt to shed light on the challenges facing family enterprises as well as to provide sources of information and assistance.

The Symposium will be conducted at the Bell Harbor Conference Center, Thursday, September 22 starting at 8:30 a.m. and continuing throughout much of the day. The media is welcome to attend or to contact symposium organizers for access to the survey data or to the presenters. Internationally known family business expert, John Ward of Northwestern University's Kellogg School of Management, is the keynote speaker. Others include Jeff Vincent, CEO of Laird Norton Company; Pat Frishkoff and Mark Green from the Family Business Program at Oregon State University; and Kaycee Krysty, CEO of LNTyee, who will address family owners and managers on the topic of creating a legacy.

Family-owned businesses are a mainstay of the Northwest economy, yet their owners have done alarmingly little to ensure their business continuity and legacy for future generations. Those are the top-line conclusions of a first-of-its-kind survey of family businesses to be presented and discussed at a conference today in Seattle.

At the Northwest Family Business Symposium, titled "Perpetuating the Family Business," an expected 150 principals of family-owned businesses will hear the results of the first stage of a groundbreaking survey conducted by Dr. Pat Frishkoff, founder of the Austin Family Business Program at Oregon State University. The invitation-only conference is being held at Bell Harbor Conference Center, Seattle, and is sponsored by Seattle-based Laird Norton Company LLC, a seventh generation family business in celebration of its 150th anniversary.

"Surprisingly, there has been no formalized research into best practices for family business owners in the Northwest states," explains Kaycee Krysty, president and chief executive officer of Laird Norton Tyee, a Laird Norton subsidiary and sponsor of the survey. "The results of this first phase should become a wake-up call to business owners, urging them to explore better ways to continue their companies and to fulfill their visions for themselves and their families."

"The majority of owners of family businesses tell us they have done little planning for their succession or for their future generations. That's the top lesson learned," according to Dr. Frishkoff. Only 43 percent of the respondents have a comprehensive succession plan that designates who will lead the company next and when, and that has been communicated to the family, including the next generation.

What does this mean for the Northwest economy and particularly for the families involved? "To keep those businesses flourishing and enable them to fulfill their owners' intentions will require serious focus and discipline," reported Dr. Frishkoff.

Another illuminating area is the range of questions being asked by family business owners.

The most often cited challenge, according to Dr. Frishkoff, is integrating non-family members into the company leadership team. Second is governance, meaning decision making, board structure and procedures, etc. And third is measuring and maximizing results, both financial and non-financial.

Other significant areas of concern and desired improvement for the owners of family businesses include: communicating among family members about business, letting go (from a senior generation) and taking charge (from a younger generation), and protecting wealth.

The August-September mailed survey reflects responses from some 93 owners of 71 established Northwest family businesses. In terms of gross revenue, 58 percent of these owners consider their businesses to be "medium" or "large." The survey was not a random sample, but chosen from a known, selected base of well-established firms.

The longevity of the Northwest Family Businesses participating ranges from three to 110 years, with an average of 51 years. Most respondents, 69 percent, represented second- and third- generation family members. The total number of employees was an average of 281.

More information is available to family business owners by calling Laird Norton Tyee, 206-464-5100.

About Laird Norton Company LLC

Laird Norton Company is a seventh generation family-owned business. With more than 400 family members/stakeholders, Laird Norton companies include Lanoga, Laird Norton Tyee and Wentworth, Hauser and Violich. For more information please visit www. lairdnorton.com

About Laird Norton Tyee

Laird Norton Tyee is the Pacific Northwest's largest independent wealth management group, with more than $3 billion in assets under management. The organization serves high-net-worth clients including individuals, families, private foundations and non-profit organizations by providing a wide range of services including strategic planning, investment management, legacy and wealth preservation, and advisor coordination. Through an open-architecture approach, Laird Norton Tyee is able to pursue the best resources in the industry for clients and deliver results without compromise. Additional information may be found a www.lntyee.com

About Leadership In Family Enterprise, LLC

Dr. Pat Frishkoff, partner in Leadership In Family Enterprise, LLC, Eugene, Ore., is the founder of the Austin Family Business Program at Oregon State University. The program is the longest standing university-based program of its kind in the world, and Frishkoff served as its director until her retirement from OSU in 2002. She also held the A. E. Coleman Chair in Family Business.