The issue of business valuation has occupied both business administration and valuation practice for decades. Nevertheless, there are still considerable differences of opinion regarding the nature and determination of the overall business value among valuation theorists and practitioners—especially between the two groups. As long as these differences, which are sharply defined by the alternative of future earnings value or asset value, are not resolved, the valuation of entire companies is associated with a significant sense of uncertainty for the parties involved; after all, the results of business valuation depend not only on the data of the valuation object itself but also on the valuation method applied. Those valuation theorists who evaluate the company solely based on its future successes.