The integrated theory of business valuation provides a conceptual framework for disciplined analysis of valuation questions. Too often, valuation analysts are tempted to view individual components of a valuation assignment on a piecemeal basis. Adhering to the integrated theory helps valuation analysts develop base valuation conclusions, discounts, and premiums that are rooted in a shared perspective of the subject company and the subject ownership interest. This first webinar in the three-part series sets the stage by focusing on the conceptual overview of the integrated theory. In this session, we will explore the fundamental principles that undergird the integrated theory. We will then describe the integrated theory on an equity basis, giving particular attention to the conceptual scaffolding that the integrated theory provides to discussions of the levels of value and the associated valuation discounts and premiums. We’ll finish by extending the conceptual basis for the integrated theory to the enterprise value perspective.