How Public Guideline Companies Represent 'Control' Value for a Private Company Business Valuation Review, December, 1997. This article provides an improved valuation model applicable to private companies. It proposes a simplified structure which focuses on the two fundamental types of sellers in a private company - the control seller and the minority seller. Critically acclaimed in the business valuation community, this article presents a wealth of compelling reasons for discarding conventional valuation wisdom's "as if freely tradable" level of value. According to Larry Kaspar, CPA, CVA, in his book "BUSINESS VALUATIONS – Advanced Topics", the thesis expressed in this and Mr. Nath's other articles "represents modern financial theory". A Tale of Two Markets Business Valuation Review, September, 1994. Discusses valuation differences between the M&A market and the public market. Proposes a new, systematic approach to valuing controlling and minority interests in private companies which will conform more closely to the "fair market value" standard. Control Premiums and Minority Interest Discounts in Private Companies Business Valuation Review, June, 1990. Presents a critical look at historical valuation approaches to control premiums and minority discounts. Outlines an improved approach for application of such factors in the valuation of closely-held business interests. Valuing a Private Company – A Complex Task California Business and Financial Bulletin, September, 1989. A primer on the valuation of private companies. Eric Nath & Associates, LLC 50 California Street, Suite 3330 San Francisco, CA 94111.4624 T 415.445.3031 F 415.445.0980 Overview/Home | Officers | Clients | Speeches/Presentations | Contact Us