Lack of Voting Rights is one of the discounts associated with the valuation of shareholding in a business entity or minority interests. Non-voting rights associated with share ownership or minority interest can limit the marketability of the shareholding under consideration. Non-voting interest can be disadvantageous when voting shares define corporate direction, policy, and strategy. In instances where a very small percentage of outstanding shares control voting rights, the discount for lack of control associated with non-voting rights can be large. The factors considered in discounting lack of voting discount include the size of the block of shares being valued, the nature of the restrictive agreements, and the ease of transferability of the non-voting shares. Non-voting rights could be a majority or minority interest.