by Aaron Rotkowski, published in the Fourth Quarter 2011 issue of Business Appraisal
, a publication of the Institute of Business Appraisers (IBA).
This article discusses the discount for lack marketability (DLOM) for controlling
ownership interests. In particular, this article focuses on (1) the rationale for a DLOM
controlling ownership interest, and (2) common errors that valuation analysts make when
estimating a DLOM for a controlling ownership interest.