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Host SavoieSwitzerlandRepurchase 10% a year, 2 yrsEdinburgh Supplies LTDSouth KoreaRepurchase 10% a year, 5 yrsSnow BrokerJapanRepurchase 10% a year, 3 yrsLyfeindex LimitedBelgiumRepurchase 5% a year, 10 yrsBullion RumTanzaniaRepurchase 5% a year, 10 yrsMUTEJapanRepurchase 10% a year, 5 yrsBenito'sJapanRepurchase 5% a year, 10 yrsAnnard LtdUnited StatesRepurchase 5% a year, 5 yrsKEMA Storköksförsäljning ABChinaRepurchase 10% a year, 5 yrsTruth Treatment SystemsBrazilRepurchase 5% a year, 10 yrsRicher EducationKuwaitRepurchase 50% a year, 2 yrsBelle CoachworksAustraliaRepurchase 5% a year, 7 yrsArconoQatarRepurchase 8% a year, 5 yrsK-FabQatarRepurchase 10% a year, 5 yrsNoordungQatarRepurchase 15% a year, 3 yrsMobo EatsNetherlandsRepurchase 10% a year, 3 yrsEngingNepalRepurchase 10% a year, 3 yrsRabosaUnited Kingdom, EnglandRepurchase 10% a year, 3 yrsShocklogicBahrainRepurchase 50% a year, 2 yrsStagefrights Murder MysteriesChinaRepurchase 15% a year, 3 yrsThe Mortgage Advice ClubQatarNo repurchase optionAdventura GlobalBrazilRepurchase 5% a year, 5 yrsShapeaccelerator BVChinaRepurchase 10% a year, 3 yrsIndoor Vertical.FarmQatarRepurchase 10% a year, 3 yrsCrowd CookwareBahrainRepurchase 10% a year, 3 yrsLandskapetGermanyRepurchase 10% a year, 3 yrsGreenolaOmanRepurchase 10% a year, 3 yrsCaravans In The SunGermanyRepurchase 10% a year, 3 yrs

EdenMountainInsights

White paper · October 2026

Enterprise Non-Operating Rights: an introduction for institutional investors

A 16-page primer on the asset class for investment committees and their advisers: what an ENOR is and is not, how the exchange works, how a holding can end, what the market looks like after 27 months and the risks to weigh.

Inside the paper

  1. The asset in one pagep. 2
  2. What an ENOR includes and excludesp. 3
  3. Who can do what after a salep. 4
  4. How the exchange worksp. 5
  5. How a holding can endp. 6
  6. The market after 27 monthsp. 8
  7. Pricing and repurchase termsp. 11
  8. Due diligence and risksp. 13
  9. Glossaryp. 15
Download the white paperPDF

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Four findings from the paper

  1. 01The position is defined by what neither side can do

    After a sale, the brand cannot open in the territory alone and the holder has no operating right. The holder's position rests on the brand needing the territory back.

  2. 02Most brands fix their way back in advance

    85% of ENORs carry a repurchase option, most often over three years. That sets a known price for the brand's return, though the option stays the brand's to use.

  3. 03Supply on the secondary market has started

    Holders have relisted 10 of the 12 ENORs sold so far. No resale has completed yet, which matters for anyone planning an exit.

  4. 04Due diligence sits with the buyer

    The exchange verifies every seller; what a listing says is for the buyer to check. The paper sets out a checklist for reading a listing and the questions to put to a brand.

Join the EdenMountain exchange

Registration is free. Choose the side of the exchange you are on and verification starts from there.

Invest in ENORsFor accredited investors
List your ENORsFor brands with territories they do not operate in