A going concern is an established and operating business with an
indefinite future life. For certain types of properties (e.g., resort
hotels, sports complexes, casinos and manufacturing enterprises), the
physical real estate assets are integral parts of an ongoing business.
The market value of such a property (including all the tangible and
intangible assets of the going concern, as if sold in aggregate) is
commonly referred to by laymen as business value or business
enterprise value, but in reality it is market value of the going
concern including real property, personal property, and the intangible
assets of the business.
