In the relationship between unloading contact stiffness, elastic modulus, and contact area, which is the fundamental basic equation for nanoindentation analysis, a multiplicative correction factor is generally needed. Sometimes this correction factor is called gamma to take into account the elastic radial inward displacements, and sometimes it is called beta to correct for the fact that the indenter shape is not a perfect cone. In reality, these two effects simultaneously coexist and thus it is proposed that this correction factor is alpha = beta gamma. From nanoindentation data measured on three materials of different elastic moduli with a sharp Berkovich indenter and a worn one, the tip of which was blunt, it is demonstrated that the correction factor a does not have a constant value for a given material and indenter type but depends on the indenter tip rounding and also on the deformation of the indenter during indentation. It seems that a increases with the tip radius and also with the elastic modulus of the measured materials.