As FAS 157 states, "Substantial value may arise from the ability to take advantage of synergies and other benefits that flow from control over another entity." In short: There's value in control. Yet knowing how to recognize and quantify that control has been an enduring source of debate for appraisers of all stripes. On April 29, 2010, appraisal experts Brad Pursel, Mark Edwards, and Andrew Fargason, a member of The Appraisal Foundation's working group on this topic, provided a much-needed examination of these adjustments in Control Premiums: Applications and Analysis, a 100-minute BVR teleconference. Through the course of their presentation, Pursel, Edwards, and Fargason covered the much-needed areas of the application, determination, and recognition of control premiums, as well as new analysis of the factors that are commonly believed to influence the magnitude of control premiums. If you're valuing a business, you shouldn't miss this presentation.