The business is an organisational unit with an economic focus in which right holders allocate the totality of their rights and duties.
Businesses are as a rule composed of:
- real estate
- moveable property
- receivables, securities and other claims
- long-term debts
- short-term debts
- equity capital
The value of a business is determined not only on the basis of hard facts such as assets or liabilities, but rather also soft factors such as
- know how
- the customer base
- goodwill / image.
Goodwill is often not only the reason for the decision to purchase, but also one of the major factors in determining the price.