Valuation & Litigation Briefing / Litigation & Valuation Report
Showing 289–304 of 385 results
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Why the valuation date is so important
November / December 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 657
Abstract: When one considers how the value of an asset will be determined in a matter, it’s common to think about what method the appraiser will use or whether discounts may apply. But a critical factor that may not immediately come to mind is the appraisal date. This article explains how the valuation date can affect cases involving estate and business valuations, divorce, and shareholder oppression.
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Calculating damages – Tricks of the trade secret
November / December 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 716
Abstract: Quantifying damages in trade secret cases can be tricky. Unlike other forms of intellectual property, trade secrets retain their value only as long as they remain secret. Owners of patents, copyrights and trademarks, on the other hand, share their creations with the public in exchange for exclusive rights, for a limited time, to commercialize their work. This article discusses how a plaintiff can maximize damages in trade secret cases, as well as how the defendant can link the plaintiff’s loss to factors other than trade secrets.
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Marketability discounts for controlling interests?
November / December 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 428
Abstract: Discounts for lack of marketability are well established when valuing minority interests in closely held businesses, but using marketability discounts for controlling interests is controversial. This article discusses the arguments made by both proponents and critics, and notes that, if a marketability discount for a controlling interest is an issue, it’s important to work with a valuation expert to be prepared to support or, if appropriate, challenge application of the discount.
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Chemtura addresses business appraisals in a volatile economy
November / December 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 1098
Abstract: This article looks at a case in which the bankruptcy court decided to confirm the debtors’ reorganization plan. The equity holders had opposed it, claiming that the plan overpaid creditors and underpaid equity holders. But the valuation reports offered in the case fell short in their ability to sway the court. The article discusses why, and offers a sidebar arguing the case for independent experts, noting that the credibility of the valuation experts in this case was at least partially damaged by their having a contingent fee arrangement. Citation: Chemtura Corporation, et al., No. 09-11233 (Bankr. S.D.N.Y. 10/21/10).
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ACFE survey provides insights on fraud prevention and detection
September / October 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 352
Abstract: The Association of Certified Fraud Examiners (ACFE) has expanded its biennial fraud survey to include fraud cases in over 100 nations. This brief article lists a few of its conclusions in regard to who’s committing fraud, how much it’s costing, and how to deter fraud perpetrators.
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How do you value a startup company?
September / October 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 649
Abstract: Established businesses have track records of earnings and cash flow that can be used to predict future financial performance. But, for a business without such a track record, a valuator must look to other factors, many of them subjective, to estimate value. This article discusses some of the most important predictors of future success.
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1 + 1 = 2 – How calculation engagements can provide an indication of value
September / October 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 842
Abstract: Preparing a formal valuation for a client requires much work on the part of the appraiser. It can, therefore, be costly. But in many situations, a full-blown valuation isn’t necessary. That’s when an appraiser might suggest using a calculation of value instead. This article provides an overview of the difference between valuations and calculations and when it’s most advantageous to use a calculation of value.
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Defense damages experts – Developing a winning strategy
September / October 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 1029
Abstract: In cases involving monetary damages, a critical strategic decision for the defense is whether to engage a damages expert. It may seem inadvisable to let the plaintiff’s damages calculations go uncontested, but presenting one’s own damages evidence can send mixed signals to the jury, particularly if liability is being denied. This article lists three options the defense has, and looks at two cases that illustrate the potential risks and rewards of challenging the plaintiff’s damages expert without presenting an alternative damages estimate. Citation: FMS, Inc. v. Volvo Construction Equipment North America, Inc., 2007 U.S. Dist. LEXIS 19517 (N.D. Ill. 2007) [Quoting Empire Gas Corp. v. American Bakeries Co., 840 F.2d 1333, 1242 (7th Cir. 1988)]; FMS, Inc. v. Volvo Construction Equipment North America, Inc., 2009 U.S. App. LEXIS 4938 (7th Cir. 03/04/2009); Sossikian v. Ennis, No. A119693 (Cal. App. Dist. 1 07/16/2009)
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Valuing a business with significant real estate assets
July / August 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 529
Abstract: Often, a business’s value is closely linked to the value of its real estate. If that’s the case, a valuation approach that yields separate values for the business and the real estate may produce more accurate results. This article explains the impact of real estate on business value and the methodology involved in separate valuations.
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Patent infringement damages – Federal Circuit gives thumbs down to “25% rule”
July / August 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 735
Abstract: In a recent case involving infringement of an antipiracy software registration system, the Federal Circuit affirmed the district court’s grant of a new damages trial because the award was “fundamentally tainted by the use of a legally inadequate methodology.” This article explains the court’s repudiation of the oft-used “25% rule of thumb.” Citation: Uniloc USA Inc. v. Microsoft Corporation, 632 F.3d 1292 (Fed. Cir. 2011). Georgia-Pacific Corp. v. United States Plywood Corp., 318 F. Supp. 1116 (S.D.N.Y. 1970), modified and aff’d, 446 F.2d 295 (2d Cir. 1971).
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3 ways to communicate with a valuation professional
July / August 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 632
Abstract: Nothing’s more frustrating than sitting down for a consultation with a valuation professional and failing to fully understand the process and how an appraiser arrives at a certain value. To avoid miscommunication, this article offers three simple instructions: listen to the valuator’s explanation of the various standards of value; define valuation parameters; and develop an engagement letter.
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Growth rate becomes critical to lost profits calculation
July / August 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 999
Abstract: In commercial cases involving lost profits, selecting an appropriate growth rate is a critical step in calculating damages. It’s also one of the most challenging. Depending on the amount at stake and the length of the damages period, adjusting the growth rate by just a few percentage points can have a significant effect on the outcome. This article looks at one lost profits case in which the court found that the plaintiff’s expert’s general approach was sound but that his method of selecting the growth rate wasn’t. A sidebar discusses one of the court’s criticisms in particular. Citation: Manpower Inc. v. Insurance Company of the State of Pennsylvania, No. 08C0085 (E.D.Wis. 09/20/2010)
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Poking holes in your damages case – Critiquing expert can help avoid disaste
May / June 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 572
Abstract: No matter how thoroughly a company prepares, it can be difficult for it to recognize weaknesses or errors in its expert’s report. Even if it has a firm grasp of the concepts on which the expert will testify, both the company and the expert may be too close to the case to evaluate it objectively. This article explains that, when large sums are at stake, an independent “critiquing” expert can ensure the expert’s report will withstand adversarial scrutiny. It looks at what’s involved and how to choose a critiquing expert.
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When it’s time to calculate damages – How to ensure a reasonable discount rate
May / June 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 611
Abstract: Consider this scenario: A company goes to court to recover the lost profits it likely would have earned in the future had an employee not divulged the secrets to a competitor. But what’s the best way to determine those lost profits? As this article explains, a skillful financial expert can discount future damages to present value, providing the ammunition businesses need to receive a just award. It discusses the impact that discounting can have on damages awards, what affects the discount rate, and two approaches to calculating lost profits damages.
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In the battle of experts, one weapon simply isn’t enough
May / June 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 686
Abstract: Business appraisers generally consider several valuation methods in reaching a value conclusion. In one case in Delaware, a court found the petitioner’s valuation expert to be “totally, completely unreliable,” in large part because she’d relied exclusively on one valuation technique. This article discusses the three most common valuation approaches and the importance of using multiple valuation methods whenever possible to support value conclusions. Citation: In re Hanover Direct, Inc. Shareholders Litigation, No. 1969-CC (Del.Ch. 09/24/2010)
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What’s a business worth? It depends
May / June 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 1045
Abstract: In a litigation context, the same business interest may have different values depending on the nature of the case, applicable law and other variables. This article looks at some factors to consider when determining value, such as identifying the subject ownership interest and determining the valuation standard and the premise of value. A sidebar discusses “level of value,” which refers to the level of control an owner has over the business as well as the level of marketability of the interest.