Valuation & Litigation Briefing / Litigation & Valuation Report
Showing 225–240 of 385 results
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ITT Corp. v. Xylem Group, LLC – When are hypothetical royalty damages reasonable?
July / August 2014
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 428
Abstract: This brief case study focuses on a recent decision in ITT Corp. v. Xylem Group, LLC, where the court concluded that reasonable royalty damages are available to plaintiffs in trademark infringement cases. It rejected the argument that these damages are available only to plaintiffs that can show an established royalty rate based on an actual license agreement. ITT Corp. v. Xylem Group, LLC, No. 1:11-cv-03669-WSD (N.D. Ga. 08/05/2013)
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Back to the future – Use cash flow projections to forecast future economic benefits
July / August 2014
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 693
Abstract: Experienced business owners know that profits mean nothing if there’s not enough cash left over to pay their salaries and dividends. Cash flow projections can help owners understand the value of the business, manage cash flow more efficiently and survive monthly cash crunches. This article explains how valuators estimate projected cash flow, pointing out that this valuation expertise makes them uniquely suited to help management increase efficiency and profitability.
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Multilevel valuation discounts: Handle with care
July / August 2014
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 522
Abstract: Estate planners may use family limited partnerships (FLPs) and family limited liability companies (FLLCs) to consolidate a family’s wealth management, protect assets, and reduce gift and estate taxes. The reductions are made by subtracting lack of control and marketability discounts from the net asset value of the entity’s holdings. This article notes that, in some cases, multilevel discounts are available for tiered entities and uses a hypothetical example to illustrate how a multilevel discount might work. Estate of Astleford v. Commissioner (T.C. Memo 2008-128) Estate of O’Connell v. Commissioner (T.C. Memo 1978-91)
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Dividing retirement benefits in divorce
July / August 2014
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 895
Abstract: Often, when married couples divorce, retirement plans are among their largest assets. Valuing and dividing these assets can be a challenge, especially when one spouse began participating in the plan before marriage. This article explains how a financial expert with valuation and forensic accounting experience can assist divorcing couples in valuing retirement plan assets and determining the extent to which contributions, earnings, distributions and loans constitute separate or marital property.
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Discovering e-discovery
May / June 2014
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 408
Abstract: In today’s digital age, the ubiquity of “electronically stored information” (ESI) has profoundly changed the way litigants conduct discovery — so much so that the Federal Rules of Civil Procedure were amended to address the specific issues surrounding ESI. This brief article reviews several of these amendments and their implications, including the concept of discovery requests designed not to elicit relevant ESI, but to elicit information about the procedures or methods a party used to search for responsive ESI. Ruiz-Bueno v. Scott, No. 2:12-cv-0809 (S.D. Ohio 11/15/201
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Ownership transition – Valuation is key to succession planning
May / June 2014
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 719
Abstract: Business owners planning succession face the difficult decision of whether to sell, dissolve or transfer their business to family members. The article notes the many ways valuators can help guide the succession planning process by looking at such factors as the company’s expected cash flows, perceived risk, expected growth and marketability. In addition, a valuator can show how the purpose of the valuation affects the value itself.
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Supporting a punitive damages claim – Does the punishment fit the crime?
May / June 2014
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 629
Abstract: Punitive damages may represent a significant portion of a plaintiff’s recovery — in some cases dwarfing compensatory damages. But in recent years, the courts have found that punitive damages may offend constitutional due process protections if they are “grossly excessive” in relation to the government’s legitimate interest in punishment and deterrence. This article uses several cases to help readers understand the factors that support punitive damages, the constitutional limits on those damages, and the relationship between punitive and compensatory damages. BMW of North America, Inc. v. Gore, 517 U.S. 559 (1996) State Farm Mutual Automobile Insurance Co. v. Campbell, 538 U.S. 408 (2003) Nickerson v. Stonebridge Life Insurance Co., No. B234271 (Cal. App. Dist. 2, 8/29/2013)
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What a difference a valuation date makes
May / June 2014
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 797
Abstract: The valuation date can have a dramatic impact on the outcome of a valuation dispute. To illustrate this point, this article looks at the case Wisniewski v. Walsh, a shareholder oppression lawsuit that dragged on for 18 years. The article outlines the history of the case and how the valuation date, while not the only factor, became central in the appellate court ruling. The ruling shows that, though the presumptive valuation date is typically the date the complaint was filed, a later date might be appropriate if using the presumptive date would be unfair. The article goes on to note several circumstances under which an alternate valuation date may be appropriate. Wisniewski v. Walsh, Nos. A-0825-10T4 and A-0826-10T4 (N.J. Super. App. Div. 2013)
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Business interruption cases – 6 ways financial experts can help
March / April 2014
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 375
Abstract: The purpose of business interruption insurance is to place an insured in the same position as if the interruption hadn’t occurred. This article discusses six ways financial experts can help with insurance claims, including estimating losses, mitigating the loss, and proving damages.
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The ins and outs of business contingencies
March / April 2014
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 586
Abstract: Financial managers generally attempt to identify and plan for contingencies that they feel are reasonably likely to occur. This article examines how professional valuators adjust for risk-reduction strategies, noting that the accounting treatment of contingent losses differs somewhat from that of contingent gains, and how the treatment of contingencies gets a bit more complicated when valuing a business.
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Why it’s critical to show that opinions are reliable
March / April 2014
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 636
Abstract: In a recent case involving securities fraud and breach of contract claims, the U.S. Court of Appeals for the Third Circuit found that the lower court’s standard for reliability on Daubert grounds was too high; a plaintiff need not demonstrate by a preponderance of the evidence that the expert’s opinions are correct — just reliable. This article explains the court’s distinction between “typical” and “nontypical” securities fraud cases and how it made a difference in this case.
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Valuing an S corporation – Should you tax-affect or not?
March / April 2014
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 1009
Abstract: The issue of whether valuators should “tax-affect” an S corporation’s earnings — that is, reduce earnings by an assumed corporate tax rate — continues to be controversial. The U.S. Tax Court rejected the practice in 1999, claiming that tax-affecting was inappropriate in valuing an S corporation. But in recent years several courts have embraced the concept, choosing a middle ground that better reflects an S corporation’s value. This article looks at a couple of recent cases, while a sidebar indicates that the Tax Court might revisit tax-affecting if the right case comes along.
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Assessing damages: Don’t overlook prejudgment interest
January / February 2014
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 330
Abstract: Too often, litigants overlook prejudgment interest. This compensates for the loss of the use of funds and the effects of inflation after a party suffers economic damages. It’s usually calculated between the date of injury and the date of judgment. This article explains why it’s important for plaintiffs and defendants alike to consider prejudgment interest when evaluating a case, developing a litigation strategy or negotiating a settlement.
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Can owners compensation affect a company’s value?
January / February 2014
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 680
Abstract: Owners of closely held companies have significant leeway when it comes to setting their own salaries and benefits. But how does that affect business value? Often, to obtain a more accurate valuation, it’s necessary to “normalize” owners compensation. This results in an objective, unbiased owners compensation amount, which, in turn, contributes to a more credible business value. This article discusses when it is or is not appropriate to normalize owners compensation, along with the challenge of determining market compensation for an individual owner.
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The challenge of estimating damages in IP cases
January / February 2014
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 625
Abstract: In an intellectual property (IP) case, it’s important to have a qualified valuator. Why? Because in some IP litigation, it may be possible to recover certain damages that are based on profits the defendant enjoyed as a result of its infringement. This article looks at the theory behind damages, how valuators might attempt to apportion sales among infringing and noninfringing activities, and the ways that a court might determine lost profits.
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How to value fractional interests in real estate
January / February 2014
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 874
Abstract: Undivided fractional interests in real estate, such as tenancy-in-common (TIC) interests, can be a challenge to value. Generally, the process requires two valuations: an appraisal of the underlying real estate and then a valuation — applying traditional business valuation principles — of the fractional interest. This article first notes the difference between fractional and minority interests. It then lists some general factors in determining an appropriate discount for the fractional interest and explains how the discounted cash flow method can be used to value it. A sidebar explains how the availability of valuation discounts for TIC and other fractional interests in real estate leads to some valuable estate planning opportunities for married couples.