Valuation & Litigation Briefing / Litigation & Valuation Report
Showing 241–256 of 385 results
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Federal discovery: Big proposed changes on the horizon
November / December 2013
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 328
Abstract: Proposed amendments to the Federal Rules of Civil Procedure will, if enacted, have a significant impact on discovery in the federal courts. As this article explains, they would rein in the “kitchen sink” approach to discovery that’s commonly used today, under which virtually any nonprivileged evidence is discoverable. Instead, they would replace this standard with one that permits and encourages responsible use of discovery that’s “proportional to the reasonable needs of the case.”
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Bringing up baby – Make sure your valuator understands upstarts
November / December 2013
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 615
Abstract: In spite of the sagging economy in parts of the United States, many ambitious entrepreneurs are still in the business of starting up new companies. The trick is: How do these entrepreneurs value their upstarts? Companies that have been in business a long time have years of data behind them to help establish a sound valuation. But it’s quite a different story when it comes to newer ventures. This article discusses the factors that valuators look at to estimate a startup’s future performance and to gauge the level of risk involved.
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Beware of risky litigation strategies
November / December 2013
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 714
Abstract: This article discusses two recent patent infringement cases involving damages strategies that backfired. In one, the plaintiff prevailed because it not only had a strong history of preinfringement sales, but also because its outside expert presented an analysis that was “based on sound economic proof confirmed by the historical record.” In the other case, the plaintiff prevailed on liability, but the defendant’s motion for summary judgment on damages was granted because the plaintiff had failed to offer expert testimony in support of its reasonable royalty calculations. Both cases highlight the need to engage qualified valuators when heading into court.
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Handle with care – Make sure buy-sell valuation provisions are clear
November / December 2013
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 861
Abstract: Perhaps the most critical aspect of a buy-sell agreement is its valuation provision. Any ambiguity in the agreement’s pricing terms — or misunderstandings about what they mean — can lead to unpleasant surprises when the buy-sell agreement is triggered. This article describes three common approaches to setting a price, along with the importance of choosing terminology carefully. A sidebar illustrates the dangers of relying on book value to set a buyout price in a buy-sell agreement.
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Know the difference between forecasts and projections
September / October 2013
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 389
Abstract: The terms “forecast” and “projection” are often used interchangeably. But they have very different meanings, so it’s important to understand the distinction. As this article explains, a forecast predicts a business’s financial performance based on conditions that are expected to exist, and a projection does so based on hypothetical “what if” scenarios. The article explains how both are used in real-life situations.
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How to calculate lost earnings – It’s much more than just setting a dollar amount
September / October 2013
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 655
Abstract: A plaintiff might sue for lost earnings for many reasons. And while it might seem as though calculating the depth of damages is a simple matter, there’s much more to it than setting a dollar amount. This article looks at the steps involved in calculating lost past earnings — or earnings the plaintiff would have received from the time of the incident until trial — and then estimating future earnings. The plaintiff’s damages are generally equal to the present value of the difference between those two numbers.
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The excess earnings method: When is it appropriate?
September / October 2013
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 603
Abstract: The excess earnings valuation method was developed more than 90 years ago and, although controversial, it remains in wide use today, particularly in divorce cases. Generally, sophisticated valuation professionals view the method as unreliable and avoid using it. But it continues to be appropriate under certain circumstances. This article examines how the method works, its inherent flaws, and situations in which its use may nonetheless be advantageous.
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Finding the good in goodwill impairment testing
September / October 2013
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 890
Abstract: Under current accounting standards, companies that record goodwill on their balance sheets are required to test it annually for impairment. Optional, qualitative impairment assessments can help some companies reduce the cost and complexity of impairment testing. But they also introduce new uncertainties and risks into the impairment testing process. As this article explains, it’s important to develop a plan for determining whether qualitative assessments are appropriate and, if so, for making and documenting those assessments. A sidebar describes the two-step process involved in goodwill impairment testing.
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SBA loans require an independent valuation
July / August 2013
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 394
Abstract: The Small Business Administration (SBA) maintains a variety of loan programs to help businesses obtain financing on favorable terms. For small businesses interested in acquisitions, the popular 7(a) program offers SBA-guaranteed business acquisition loans with competitive interest rates, extended repayment terms and other benefits. This article explains how they work.
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When valuing a manufacturing business, work with a pro
July / August 2013
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 660
Abstract: Appraising manufacturing businesses isn’t an easy task. Multiple aspects of these companies have intangible assets that may provide value in addition to the value of a company’s hard assets. But this article describes how qualified appraisers can ascertain the value of companies by applying various valuation methods, such as the income, market and cost (or asset-based) approaches. By considering these methods and choosing the most appropriate, valuators can come up with reliable value estimates.
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Can financial experts testify on hedonic damages?
July / August 2013
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 621
Abstract: Over the years, it’s become quite common for plaintiffs in wrongful death and serious personal injury cases to seek “hedonic damages” — that is, damages intended to compensate for the loss of enjoyment of life. Although hedonic damages are widely accepted, the issue of whether financial experts should be permitted to quantify these damages remains controversial. This article discusses attempts that have been made to put a value on human life, along with the objections they’ve raised.
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Resolving postacquisition disputes – Involve financial experts to improve your chances of success
July / August 2013
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 844
Abstract: It’s not unusual for disputes to arise over the calculation of purchase price adjustments (PPAs), alleged misrepresentations regarding the seller’s financial condition and a variety of other issues. This article explains how a financial expert with a background in both valuation and forensic accounting skills can improve one’s chances of prevailing in court. A sidebar offers tips to keep in mind when developing PPA provisions in a purchase agreement.
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Determining causation: What’s the expert’s role?
May / June 2013
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 309
Abstract: Tracing damages to a defendant’s alleged misconduct is important in complex commercial litigation. Damages typically are measured by a plaintiff’s lost profits. But declining profits can be caused by many factors, such as increased competition and rising costs, product obsolescence, legal issues, economic and industry trends, and regulatory changes. This article offers two real-world examples of how inexperienced “experts” failed to distinguish damages caused by the defendant’s acts from other types of business losses. Concord Boat Corporation v. Brunswick Corporation, 207 F.3d 1039 (8th Cir. 03/24/2000) Penn Mart Supermarkets, Inc. v. New Castle Shopping, LLC, No. 20405-NC (Del. Ch. 2005)
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In business valuation, “normal” matters
May / June 2013
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 595
Abstract: Typically, the starting point for measuring a company’s earning power is its financial statements and other documents that reflect historic financial performance. But often, these documents contain entries that can distort a company’s true earning potential. For this reason, valuation experts often adjust a company’s financial statements to provide a picture of its financial performance under “normal” conditions. This article looks at three common areas of adjustment and explains the circumstances under which a normalization adjustment is appropriate.
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Liquidation vs. going concern – Making the best choice in today’s economy
May / June 2013
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 681
Abstract: Businesses that are considering liquidation should be careful before proceeding — they could end up in an even worse situation. This article states why it’s important to bring in a professional valuator or appraiser to determine the appropriate premise of value at the beginning of the engagement. It looks at three common premises of value: going concern, liquidation-orderly, and liquidation-forced.
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Apple v. Motorola offers a primer on expert testimony
May / June 2013
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 940
Abstract: In a recent patent infringement case involving smartphone technology, a prominent jurist delivered a primer on proving damages in the courtroom, declaring the testimony of both parties’ damages experts to be inadmissible. This article explains how he applied his real-world test to the experts’ courtroom methods. A sidebar notes his assertion that a judge does not evaluate the relative strengths and weaknesses of an expert’s evidence, but focuses on methodology.