The oxymoron of "control, marketable"

Business Valuation UpdateVol. 5 No. 10
October 1999
Shannon P. Pratt, CFA, ARM, ABAR, FASA, MCBA, CM&AA
discounts & premiums
restricted stock study, discount for lack of marketability (DLOM), minority interest, controlling interest, levels of value


When we use the terms "marketable" or "nonmarketable" in business appraisal, we typically are referring to minority interests. Yet, some people apply the expression "marketable" or "nonmarketable" to controlling interests, where the distinction seems meaningless.