Field Guide to Business Value
(Updated May 2004)
Valuing the intangible? Understand the distinctions between business value, going-concern, and goodwill -- and find out how these concepts apply to hotels & motels, retail establishments, and special purpose properties -- in this updated Field Guide. (M. Martinez, Library Manager)
Contents:
Valuing the Intangible | Hotels & Motels | Retail Establishments | Special Purpose Properties | Books, eBooks & Other Resources
Terminiology
BUSINESS ENTERPRISE VALUE (BEV)
"A term applied to the concept of value contribution of the total intangible assets of a continuing business enterprise such as marketing and management skill, an assembled work force, working capital, trade names, franchises, patents, trademarks, contracts, leases, and operating agreements." (The Dictionary of Real Estate Appraisal, 4th ed., Appraisal Institute)
GOING-CONCERN VALUE
"An operating business enterprise that is expected to continue." (The Dictionary of Real Estate Appraisal, 4th ed., Appraisal Institute)
GOODWILL
"An intangible, salable asset arising from the reputation of a business; the expectation of continued public patronage; including other intangible assets like trade name and going concern value...," (The Language of Real Estate, 5th ed., John W. Reilly)
Valuing the Intangible 
Unlocking the corporate brand, (Valuation Strategies, Mar./Apr. 2004). Q
Allocation of business assets into tangible and intangible components: a new lexicon, (The Appraisal Journal, Jan. 2002). Q
Business enterprise value debate: still a long way to reconciliation, (The Appraisal Journal, Oct. 1999). Q
How business enterprise value applies in nearly all appraisals, (The Appraisal Journal, Apr. 1998). Q
Defining and allocating going-concern value components, (The Appraisal Journal, Oct. 1997). Q
Hotels & Motels
Development of a hotel/motel capitalization rate from the marketplace, (Assessment Journal, Spring 2003). Q
Hotel asset allocation: separating the tangible personalty, (Assessment Journal, Winter 2003). Q
Hotel owner jolted by new method used to determine real estate value, (National Real Estate Investor, Dec. 2001). Q
Business value allocation in lodging valuation, (The Appraisal Journal, Jul. 2001). Q
Retail Establishments
Quantifying business enterprise value in shopping malls; current issues & future trends, (The Appraisal Journal, July 2000). Q
Going-concern value, market value, and intangible value, (The Appraisal Journal, Apr. 1996). Q
Special Purpose Properties
Appraising special-purpose industrial facilities for ad valorem purposes, (The Appraisal Journal, Oct. 2003). Q
Business enterprise value in special purpose properties, (The Appraisal Journal, Jan. 2002). Q
Valuing business goodwill losses in eminent domain cases, (The Appraisal Journal, Apr. 2000). Q
Real estate and business value: a new perspective, (The Appraisal Journal Name, Apr. 1999). Q
Applying going-concern value to landfills, (The Appraisal Journal, Apr. 1998). Q
eBooks & Other Resources
eBooks.realtor.org
The following ebooks and digital audiobooks are available to NAR members:
Business valuation and taxes: procedure, law and perspective (Adobe eReader)
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
Business valuation bluebook: how successful entrepreneurs price, buy, sell and trade businesses, (Facts on Demand Press, 2005). HD 1387 Si4
Business valuation discounts and premiums, (John Wiley & Sons, Inc., 2001). HD 1387 P88bv
Handbook of business valuation, 2nd ed., (John Wiley & Sons, Inc., 1999). HD 1387 W52
Handbook of small business valuation formulas and rules of thumb, 3rd ed., (Business Valuation Press, 1993). HD 1387 D46h
Measuring business value in shopping malls, (Indiana University Center for Real Estate Studies, 1989). SF-1998-025
Field Guides & More
These Field Guides and other resources in the Virtual Library may also be of interest:
Field Guide to Hotel/Motel Properties
Field Guide to Retail Property
>> Have an idea for a new Field Guide? Click here to send us your suggestions!
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