[2] Lane was the chief executive officer and chairman of the Board of General Binding Corporation, a firm that makes business equipment.
[6] During World War II, he was a pilot and flight instructor for the United States Navy.
[1] Lane married Ann (née Phelps) Young[7][8] in June 1949 in Lake Forest, Illinois.
[8] Lane and his wife Ann were buried at Bell Ranch in Tucumcari, New Mexico.
[9] Following his father's death, William N. Lane III became the vice chairman at General Binding Corporation.