Valuation & Litigation Briefing / Litigation & Valuation Report
Showing 177–192 of 385 results
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Valuing synergy: When a risk-based approach works
July / August 2016
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 324
Abstract: Valuing synergies is a challenge, given the substantial uncertainty in many cases over whether they’ll be achieved. This brief article discusses a recent study that demonstrates a trend toward valuing synergies separately in light of the inherent risks. The article points out that, while easily achieved cost synergies might not require a separate valuation, revenue synergies might need to be treated separately.
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Redstone v. Commissioner – Timing is critical when relying on arm’s-length stock transactions
July / August 2016
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 719
Abstract: An arm’s-length transaction involving the subject company’s stock that occurs before or after the valuation date can provide a meaningful indication of fair market value. This article concerns a recent case in which the U.S. Tax Court held that the best evidence of the stock’s value for gift tax purposes was the price the company had paid to redeem another shareholder’s stock three weeks before the valuation date. Ultimately, the case shows how events at or near the time of the valuation date generally are the most reliable indicators of value.
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The ins and outs of control and marketability
July / August 2016
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 608
Abstract: Valuation discounts are one of the most subjective — and contentious — issues when valuing a business interest for litigation purposes. Their size can vary significantly, depending on the facts and circumstances of the case. This article describes some strategies valuators often use in determining premiums and discounts and notes the importance of clearly defining the appropriate basis of value.
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When can an expert consider subsequent events?
July / August 2016
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 891
Abstract: Financial experts often encounter evidence of events that occurred after the valuation or damage date that may have a bearing on their conclusions. This article looks at the extent to which they can consider this evidence when valuing an asset or calculating damages. The article provides a brief summary of the rules concerning ex post facto data, but points out that sometimes courts deviate from these guidelines to achieve an equitable result. A sidebar looks at two types of subsequent events that current accounting principles consider. Okerlund v. U.S., 365 F.3d 1044 (Fed. Cir. 2004)
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What’s in a domain name? Determining the value of an Internet address
May / June 2016
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 422
Abstract: Domain names are valuable — sometimes fetching six or seven figures. This brief article looks at how appraisers value them by taking into account brandability, length, search volume, existing traffic and sales history. It also notes factors that tend to diminish a domain name’s value.
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Sweat the small stuff – How to detect and prevent expense reimbursement fraud
May / June 2016
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 618
Abstract: Companies often overlook expense reimbursement fraud because of the relatively small amounts involved. But these amounts can add up quickly. Expense reimbursement schemes are common, accounting for 14% of all occupational frauds. This article explains how forensic accounting experts help companies detect expense reimbursement fraud and implement measures to prevent it from recurring in the future.
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Achieving a fair settlement in divorce
May / June 2016
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 664
Abstract: In divorce situations, an experienced financial expert can help ensure assets are fairly appraised and a split is equitable. This article discusses several ways experts can increase the odds of achieving a fair outcome when determining asset value, including improving information access to increase the scope of discovery, uncovering hidden assets, and clarifying tax and case law. The article stresses the importance of obtaining an appraisal from an experienced expert rather than depending on rules of thumb.
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Effective royalty audits start with the license agreement
May / June 2016
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 789
Abstract: Licensing can be a significant source of revenue for clients who own patents, trade secrets and other forms of intellectual property. An effective royalty audit program protects that revenue stream. This article looks at why licensees may underreport royalties, including math or accounting system errors, misinterpretations of contractual language, and deductions of inappropriate expenses or allowances. It notes the importance of a well-thought-out audit provision. A sidebar explains that audits serve important nonmonetary purposes, as well.
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Benefit-of-the-bargain vs. out-of-pocket – Calculating damages in fraudulent misrepresentation cases
March / April 2016
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 410
Abstract: In fraudulent misrepresentation cases, courts generally use either the benefit-of-the-bargain or out-of-pocket measure of damages, but the two measures can lead to dramatically different results. This brief article discusses the differences between them and illustrates these distinctions with a recent case, Lewis v. Citizens Agency of Madelia Inc.
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Warsaw Orthopedic, Inc. v. NuVasive, Inc. – Lost profits damages must be reasonable
March / April 2016
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 654
Abstract: This article reviews a 2015 patent infringement case in which the U.S. Court of Appeals for the Federal Circuit upheld a finding of infringement but decided that the plaintiff wasn’t entitled to recover lost profits damages sustained via three subsidiaries. The article explains the court’s reasoning in each of the three instances. The plaintiff wasn’t precluded from recovery altogether. The court ordered a new trial to determine reasonable royalty damages.
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Finding the value of a noncompete agreement
March / April 2016
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 543
Abstract: Noncompete agreements can help businesses retain valuable employees, safeguard inside information and prevent unfair competition. But though they’re designed to protect companies, they can also put them at risk if they’re not properly structured and maintained. This article explains how valuators help ensure noncompete agreements are valued appropriately and are fair to all parties.
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Discounted cash flow: Handle with care
March / April 2016
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 889
Abstract: The discounted cash flow (DCF) method is commonly used to determine business value or calculate lost profits damages. DCF is a powerful tool, but it incorporates some subjective assumptions — which is why courts tend to scrutinize DCF calculations and demand that valuation experts demonstrate that they’re based on market-derived evidence. This article explains how valuators demonstrate that their analysis aligns with a company’s particular facts and circumstances. A sidebar looks at the cost of capital.
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Business valuations for SBA 7(a) loans: What’s required?
January / February 2016
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 458
Abstract: The Small Business Administration (SBA) 7(a) program offers guaranteed business loans at competitive terms. SBA regulations require an independent business valuation from a “qualified source” in connection with certain 7(a) loans. This brief article explains when a valuation is required and what an SBA valuation entails.
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Avoid costly disputes with a buy-sell agreement
January / February 2016
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 563
Abstract: A buy-sell agreement can help avoid disputes over ownership rights, control and the value of a company when an owner leaves the business. Whether the agreement is triggered voluntarily or involuntarily, owners need to protect their financial interests with an agreement that’s legally enforceable and comprehensive. This article points out that it’s important to define buyout terms, avoid ambiguous or outdated valuation formulas and specify the financial data to be used in a buy-sell agreement.
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Statistics and big data play a supporting role in litigation
January / February 2016
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 577
Abstract: Often, the sheer volume of documents, data and transactions involved in commercial litigation makes it difficult to establish causation, quantify losses or calculate damages. Analytical techniques such as statistical and big data analysis can make these tasks more manageable and cost effective. This article explains how computers can analyze extremely large data sets to reveal patterns, trends and associations. It uses a recent case to illustrate how big data analysis helped prove fraud was committed.
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Uncharted territory – Recovering lost profits for a new or unestablished business
January / February 2016
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 831
Abstract: Proving lost profits for a new or unestablished business with no earnings track record is a challenge. Regardless of whether a damaged business is established or unestablished, proving lost profits requires experts to predict the plaintiff’s future performance. This article looks at strategies experts use to estimate lost profits when historical performance isn’t an option, including considering management quality, industry and market statistics and benchmarks, and the performance of comparable companies. A sidebar discusses whether experts can rely on management projections.