In business valuation, a Subject Interest refers to a business, business ownership interest, security, or intangible asset that is the focus of a business valuation analysis. In business valuation analytical work, the business valuator establishes very early in the process the subject interest being valued because this informs the analysis as to whether it is a majority or minority interest which is being valued which triggers the application of premiums or discounts as well as the marketability of valued subject interest.