VV
Showing 145–160 of 382 results
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Public vs. private companies: Understand the key differences
November / December 2017
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 448
Abstract: Public company data often is used to value private businesses. But there are important differences in how public and private entities operate. This article explains what’s different and how experts adjust their valuation methodology to account for the differences.
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Bombardier Rec. Prods. v. Arctic Cat Inc. – Are draft reports discoverable?
November / December 2017
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 570
Abstract: Under the Federal Rules of Civil Procedure, draft reports, expert notes and other expert-attorney communications generally aren’t subject to discovery. But there are some exceptions. This article summarizes a recent patent infringement case where an expert’s draft report was discoverable because it contained editorial comments from a different expert. It also provides insight on how to protect your expert’s draft reports from discovery. Bombardier Rec. Prods. v. Arctic Cat Inc., Case No. 12-cv-2706 (ADM/LIB), D. Minn., April 19, 2016
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Valuing franchises
November / December 2017
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 616
Abstract: Not all franchises are created equal. This article highlights special considerations when valuing franchises, such as evaluating the risk vs. return, analyzing the franchise agreement and searching for factors that add to or detract from value.
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Tax issues play a central role in divorce settlements
November / December 2017
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 867
Abstract: Divorcing spouses often hire financial experts to help brainstorm settlement options, particularly when the marital estate includes a private business interest. This article explains how a business valuation professional can help divorcing spouses understand the critical tax issues that come into play when determining support payments and divvying up assets. A sidebar discusses innocent spouse relief, which may come into play in divorce cases.
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Should you consider hiring a joint business valuation expert?
September / October 2017
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 447
Abstract: The use of a joint valuation expert can often save resources — if the parties will openly share information and trust each other. This article outlines the benefits of using a joint expert. But it acknowledges that joint experts might not be realistic in all situations, including contentious divorces and shareholder disputes.
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Salkini v. Salkini – Submit timely business valuation reports — or else
September / October 2017
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 519
Abstract: In this divorce case, the wife’s business valuation expert wasn’t allowed to provide a valuation opinion, because his report wasn’t submitted into evidence in a timely manner. This article summarizes why the appellate court upheld his exclusion and why the case was remanded to the trial court to explain how the court arrived at its property settlement. Iman Salkini v. Jay Salkini, Ct. of Special Appeals of Md., No. 92, April 5, 2017
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Pick a winner: Understanding pricing multiples
September / October 2017
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 619
Abstract: Under the market approach, a business’s value is derived by comparing it to real-life transactions involving similar private or public companies. This article outlines common pricing multiples, such as price-to-earnings and price-to-discretionary-income, and discusses some pros and cons.
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How to factor taxes into the business valuation equation
September / October 2017
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 879
Abstract: Taxes certainly affect the value of a business interest. This article explains how investors (and, therefore, business valuation experts) consider taxes — such as expected federal and state income tax rates, deferred tax assets and liabilities, and built-in capital gains taxes — when deciding how much a business interest is worth. A sidebar addresses congressional tax reform plans and how the possibility introduces an element of uncertainty for business interests valued as of December 31, 2016.
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Buy-sell agreements: How to cover all the (valuation) bases
July / August 2017
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 453
Abstract: Every business with more than one owner needs a buy-sell agreement to handle voluntary and involuntary ownership transfers. This article explains why it’s important to update the agreement regularly and address all of the valuation issues that may arise.
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Parker v. Parker – Trial court uses DLOM to achieve “fairness and equity”
July / August 2017
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 566
Abstract: In a recent appraisal rights case, a New Jersey trial court applied a 25% discount for lack of marketability (DLOM) to punish a selling shareholder for his oppressive behavior toward the purchasing shareholder. This article explains what happened and why this controversial decision warrants attention from business owners and attorneys across the country. Richard Parker v. Steven Parker, 2016 N.J. Super, Unpub. Docket No. UNN-C-108-13, December 22, 2016
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Family businesses bring valuation challenges
July / August 2017
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 678
Abstract: From the Rockefellers to the Kardashians, working together can bring out the best — and worst — in families. This article discusses four key questions valuation experts ask when valuing family businesses. They relate to family members on the payroll and other related-party transactions, management styles and key person discounts.
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Let’s make a deal – Customize M&A terms to fit your needs
July / August 2017
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 874
Abstract: In mergers and acquisitions, the gap between how much the seller expects to receive and how much the buyer is willing to pay can be bridged by incorporating creative options into the purchase agreement. But it’s important to understand the financial implications. This article discusses the pros and cons of earnouts, installment sales, consulting agreements and noncompetes. A sidebar explains the fundamental differences between asset and stock sales.
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Ready, set, sell – 4 ways to add value before selling a business
May / June 2017
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 433
Abstract: Business owners typically want to maximize the selling price when it’s time to cash out — and buyers may be willing to pay top dollar if the company is positioned for future growth. This article discusses how valuation experts can help owners understand their strengths and weaknesses, allowing them to boost bargaining strength with potential buyers over the long run.
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Deal price doesn’t always represent fair value
May / June 2017
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 544
Abstract: In appraisal rights claims, the price paid in a merger may not represent “fair value,” especially when the deal involves related parties. This article summarizes a recent Delaware Chancery Court case, where the judge concluded that a deal price is only as reliable as the process that was used to negotiate the transaction. In the absence of a “competitive and fair auction,” the court will rely on other valuation methods instead. John Douglas Dunmire v. Farmers & Merchants Bancorp of Western Pennsylvania, Inc., 2016 Del. Ch., C.A. No. 10589-CB, Nov. 10, 2016
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Beyond beta – Assessing industry risk is a critical part of the valuation process
May / June 2017
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 703
Abstract: Valuation professionals typically factor industry risk into the cost of capital, using a “beta” or other industry-specific risk premium. But industry risk isn’t something one factors in once and then forgets about. It’s something the pros consider throughout the valuation process — and its relevance even extends beyond the income approach. This article presents some questions an expert considers when evaluating industry risk.
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Finding hidden assets and unreported income
May / June 2017
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 870
Abstract: Valuation experts are not responsible for finding fraud unless a client specifically hires them to conduct a forensic investigation. But the business valuation and forensic accounting disciplines often intersect. This article explains the warning signs that controlling shareholders are hiding assets or downplaying cash flow to minimize buyouts of their spouses or minority shareholders and why it’s important to hire a financial expert from the get-go. A sidebar discusses unintentional financial statement omissions — and how they may be unearthed.