Marine planning (marine spatial planning/MSP) is under development as a viable tool to address potential user conflicts in the oceans and allow for better management of ocean uses and resources. With marine planning developing in many parts of the world, especially the E.U., U.S. and Australia, it is important for industry to be part of the creation of a shared vision for a marine area, the discussion regarding whether or not to pursue a planning or other improved management effort, and the necessary elements (e.g., outreach, funding, boundaries) of such an effort. World Ocean Council, with funding from the Gordon and Betty Moore Foundation, undertook a project to inform and, as appropriate, engage a diverse range of ocean industries on marine planning and encourage the use of credible science and risk assessment. With information gathered through literature reviews, case studies, interviews, and outreach, this paper presents potential benefits of and concerns regarding marine planning from the ocean business perspective. It also offers considerations for industry to consider its role in marine planning and for planners on how and why to engage the private sector.