Democratic employee-ownership allows those who know the business best to keep it running and enjoy its rewards: the employees. Second, conversion to democratic employee-ownership can occur smoothly. Full conversions need not occur overnight. Transition can occur over the course of years. This way institutional-knowledge is steadily transferred from retiring owners to employees. It also does not require retiring business owners to step away before they are ready. Retiring business owners can even remain involved in a scaled-back capacity. This all ensures the continued health of the transitioning enterprise.