Equity DLOC/DLOM question question

IAmNeil

True or false: If you are valuing a noncontrolling equity interest then there will be a discount for lack of control DLOC?

I think it's true.

If it is true, that means if you are valuing a controlling equity interest, then there will NOT be a discount for lack of control?

Does that sound correct?

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How do we decide whether or not a DLOM discount for lack of marketability is applied?