Valuation/Lit. sup./Fraud/M&A

Showing 1313–1328 of 1413 results

  • Ask the Advisor – Q: What do I need to consider when acquiring a business in a regulated industry?

    October / November 2008
    Newsletter: Merger & Acquisition Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 494

    Abstract: When buying a business in a government-regulated industry, companies must think about any regulatory issues early in the transaction, and be prepared to discuss them when they draft their letter of intent. This column advises buyers to look into licensing requirements, consider the best deal structure given the industry’s regulations regarding asset deals, and include in the letter a right to terminate should regulators refuse consent. (Updated 5/7/12)

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  • Justifiable risk? The dangers and rewards of cross-border acquisitions

    October / November 2008
    Newsletter: Merger & Acquisition Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 883

    Abstract: International acquisitions can provide companies with many advantages, including a broader customer base, cross-selling opportunities, new distribution channels and improved access to rapidly developing markets. But even as overseas M&As offer these potential rewards, they also present serious risks such as costly cultural misunderstandings, imprecise valuations, and inflation, exchange rate and tax issues that reduce anticipated profits.

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  • Destination: M&A success – An integration manager can help get you there

    October / November 2008
    Newsletter: Merger & Acquisition Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 781

    Abstract: Even the most strategically justified transaction can capsize if it’s not well implemented. This makes the postmerger integration phase critical. To help guide them through this tumultuous period, many companies are using internal talent — leaders who already have employee confidence and respect — as integration managers. This article explains the integration manager’s role and the experience and qualities he or she needs to fill it. (Updated 5/7/12)

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  • What to do when a buyer backs out

    October / November 2008
    Newsletter: Merger & Acquisition Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 718

    Abstract: M&A transactions can fail to cross the finish line for a variety of reasons. A seller may not be able to substantiate earnings to the buyer’s satisfaction, or the buyer may discover that synergies for long-term value just aren’t there. Whatever the reason for a deal’s demise, a jilted seller can become financially and operationally stranded. It needs, as this article discusses, to act quickly to preserve its future. Sellers must consider negotiating with the buyer or, possibly, litigation, and they need to communicate with their important stakeholders. (Updated 7/31/12)

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  • Calculating losses for new or never-launched businesses

    Fall 2008
    Newsletter: Expert / Valuation & Litigation Concepts

    Price: $225.00, Subscriber Price: $157.50

    Word count: 460

    Abstract: Lost profits are a common form of damages in business litigation, and most damages experts are comfortable calculating them. But establishing lost profits when the plaintiff is a new or never-launched company with little or no historical financial data can prove tricky. Experts might be able to apply industry growth projections to company data or, if company data is sparse, base estimates on models and studies of new-product lifecycles.

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  • Failure to obtain valuation undermines fraud claim

    Fall 2008
    Newsletter: Expert / Valuation & Litigation Concepts

    Price: $225.00, Subscriber Price: $157.50

    Word count: 352

    Abstract: This short article summarizes fraud case Lusins v. Cohen and explains why the decision reinforces the idea that buy-sell agreements must be independently appraised.

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  • Methodology matters – When an expert isn’t expert enough

    Fall 2008
    Newsletter: Expert / Valuation & Litigation Concepts

    Price: $225.00, Subscriber Price: $157.50

    Word count: 464

    Abstract: A Rhode Island court’s decision to exclude expert testimony in a patent infringement case should remind attorneys that their experts’ qualifications aren’t the only potential issue. This article summarizes the decision in Bowling v. Hasbro and talks about why experts must use accepted and appropriate methodologies or risk having their testimony excluded.

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  • Court excludes assets from gross estate in family LLC case

    Fall 2008
    Newsletter: Expert / Valuation & Litigation Concepts

    Price: $225.00, Subscriber Price: $157.50

    Word count: 860

    Abstract: After dealing taxpayers a series of losses in cases involving family limited partnerships (FLPs) and limited liability companies (LLCs), the Tax Court has allowed the assets in a family LLC to be excluded from the decedent’s gross estate. This article discusses how the opinion in Estate of Mirowski v. Commissioner can provide valuable guidance on how taxpayers can use these valuable tools.

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  • Information mining – How experts dig through data to find fraud

    Fall 2008
    Newsletter: Expert / Valuation & Litigation Concepts

    Price: $225.00, Subscriber Price: $157.50

    Word count: 770

    Abstract: From insurance scams to financial statement manipulation to fudged expense reimbursement reports, fraud victimizes businesses of every size and in every industry. Even when owners suspect fraud, however, they may not know how to gather the evidence to confirm it. Forensic accounting experts can help with data mining. This article explains how experts analyze a company’s own records looking for activity that diverges from behaviors typically associated with nonfraudulent transactions. (Updated 8/28/12)

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  • For what it’s worth: Valuation in the courtsFLP discounts and the multitiered company

    Fall 2008
    Newsletter: Valuation Concepts

    Price: $225.00, Subscriber Price: $157.50

    Word count: 653

    Abstract: In this issue’s “For what it’s worth: Valuation in the courts,” we look at the long contentious issue of family limited partnerships (FLPs). Gifts of FLP interests allow individuals to transfer wealth at often substantial discounts from the FLP’s underlying net asset value. And this recent Tax Court case provides insight into how the court handles discounts for lack of control and marketability — especially when multiple owners are involved. Citations:  Astleford v. Commissioner, T.C. Memo 2008-128, May 5, 2008.

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  • Personal vs. business goodwill: The appraisal challenges

    Fall 2008
    Newsletter: Valuation Concepts

    Price: $225.00, Subscriber Price: $157.50

    Word count: 788

    Abstract: One might associate business appraisals with accounting, yet, in truth, they’re worlds apart. Financial statements, for example, tell only part of the story, and intangible assets present even greater valuation challenges. Items such as patents, customer lists, leases and brand names can be readily identified and valued. But what’s left over — commonly referred to as “goodwill” — may require special treatment. This article compares two distinctive forms of goodwill: personal and business. (Updated 11/14/12)

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  • The market approach – An increasingly effective way to value businesses

    Fall 2008
    Newsletter: Valuation Concepts

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1156

    Abstract: The market approach is an intuitive way to value a private business interest. It bases the subject company’s price on sales of other similar businesses or business interests, which are commonly referred to as “guideline transactions” or “comparables.” Of course, no two businesses are exactly the same, so identifying a perfect match is impossible. This article examines why and how the market approach works anyway.

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  • The perplexing puzzle of economic damage claims

    Fall 2008
    Newsletter: Valuation Concepts

    Price: $225.00, Subscriber Price: $157.50

    Word count: 701

    Abstract: Calculating economic damages is similar to assembling a complex puzzle. Doing so requires gathering pieces of economic information and then fitting them together to make the injured party “whole” again. This article looks at how appraisers manage this challenging process. (Updated 2/7/12)

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  • How the latest USPAP revisions affect business appraisals

    September / October 2008
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 538

    Abstract: One of the first sets of comprehensive business valuation standards was the Uniform Standards of Professional Appraisal Practice (USPAP), published in the late 1980s by the Washington, D.C.-based Appraisal Foundation. Today, USPAP is widely considered to comprise the generally accepted standards for professional appraisal practice in the United States, particularly in the federal courts. This brief article notes some recent changes to the standards, including clarification of the question of appraiser advocacy and guidance on record-keeping, signature and certification requirements in assignments involving multiple appraisers.

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  • What’s the “real” value of a business?

    September / October 2008
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 910

    Abstract: The impact of real estate value on business value depends on several factors, including the type of business, the nature of the real estate, the purpose of the valuation and the valuation methods used. If real estate is a significant asset for a business being valued, valuing it separately often results in a more accurate enterprise value. This article explains that, although real estate appraisers and business valuators use similar methods, there are important distinctions between the two.

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  • Mitigating circumstances – Reasonable damages and the plaintiff’s duty

    September / October 2008
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 816

    Abstract: Attorneys and their financial experts often focus on quantifying a plaintiff’s economic losses. But it’s equally important to examine measures the plaintiff took, or reasonably could have taken, to mitigate its damages. A plaintiff isn’t entitled to recover damages for a loss that he or she reasonably could have avoided. When an expert evaluates the plaintiff’s opportunities to mitigate damages, the key term is “reasonable.” This article refers to a recent case, Silver Sage Partners, Ltd. v. City of Desert Hot Springs, to explain some issues that arise in determining the reasonableness of a plaintiff’s efforts to mitigate damages. Case citation: Silver Sage Partners, Ltd. v. City of Desert Hot Springs, 251 F.3d 814 (9th Cir. 2001).

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