Valuing Covenants Not-to-Compete: an 11-Factor Checklist

Business Valuation UpdateVol. 18 No. 2
February 2012
Gary Trugman, CPA/ABV, MCBA, ASA, MVS


The most common approach to valuing a covenant not-to-compete involves a “with and without” analysis, in which the appraiser estimates value based on the difference of two discounted future benefits calculations. A similar method, the lost profits analysi ...