Marketability refers to the ability to quickly convert an asset to cash at a minimal cost. It is the capability and ease of transferring an asset, business, business ownership interest or security to potential buyers. In business valuation analysis, marketability normally relates to the difficulties associated with selling a closely held business or part thereof compared to public comparators with freely trading shares. As a result of the risks associated with the selling of closely held businesses or interest in such businesses, business valuators apply a discount for lack of marketability in the estimation of the fair market value of closely held businesses or interests in such to account for the risks of limited marketability.