As any appraiser can tell you, not all values are equal, and considerations of hypothetical markets, buyers, and sellers affect the ultimate conclusion of value. When those hypothetical parties become real, the purpose, scope, and analysis often change more drastically. In Part 2 of BVR's Advanced Webinar Series on Valuations for Business Transactions, Jeff Tarbell and series curator Craig Jacobson discuss how business appraisals differ for transaction and nontransaction purposes. Learn how private business appraisers, private equity groups, and investment banks approach business valuation and how differences in these methods can lead to opportunity for the private business appraiser independent of the transaction process.