The term Market Participants is used to denote potential or actual willing buyers or willing sellers when neither is under any compulsion to buy or sell, both parties having reasonable knowledge of relevant facts and who can fully understand the dynamics of the transaction to be able to make investment decisions related to the enterprise. These characteristics form the bedrock of the concept of fair market value, the standard of value which informs most business valuations whether valuing an entire business entity or an interest in the business.