Tonkon Torp attorney Jeff Cronn led an exit strategy session for family business owners at the April 12 “Family Business 360” seminar, hosted by the Austin Family Business Program of Oregon State University. Jeff stressed the importance of family members discussing and agreeing to a long-term business plan and succession strategy in advance. He used case studies to walk through options for transferring a business to the next generation of family members, to employees, or to a third party. He also shared ideas on how to reward long-term employees and take other steps to prepare for an ownership transfer more immediately before a planned transition.
Family Business 360 is a series of educational programs offered by the Oregon State University Austin Family Business Program to business-owning families. Each breakfast session provides practical information on timely topics delivered by professional advisors and family business owners who share their respective experiences on the topic.
Jeff is a partner at Tonkon Torp, where he has chaired the firm's Business Department for more than 10 years. His legal practice emphasizes merger and acquisition transactions, and a range of corporate and business matters.