Patent infringement analysis may be ‘plausible’ but still insufficient for lost profits award
AU Optronics Corp. v. LG Display Co., Ltd., 2010 WL 2720816 (D. Del.)(July 8, 2010) The U.S. District Court (Delaware) first found that the defendant infringed four of the plaintiff’s patents related to liquid crystal display (LCD) technology. It next turned to the appropriate amount of reasonable royalty and lost profits damages. Damages estimate range [...]
Value of a law firm is controlled by “standard of value”
Hartley v. Hartley, 2010 WL 2071444 (Ala. Civ. App.)(May 21, 2010) Lawyers and their financial experts face particular discovery challenges when the business in a divorce case is a law firm. Restrictive buy-sell poses a barrier, too. In this case, the wife subpoenaed the husband’s law firm for all personnel and payroll records, retirement plans [...]
Should your expert update a 10-year old valuation report for current testimony?
Analyst Nilufer Usta posed this questions in a recent discussion on LinkedIn (note: you may have to join the BV Professionals group to access the thread). Over sixteen comments have been posted as of this moment, touching on the central topic (short answer: the report need only comply with the standards applicable as of the date of [...]
When hiring a financial expert, is industry or professional experience more credible?
BVLaw Alert notes two recent cases which demonstrate that, between two otherwise qualified business valuation experts, the one with the better industry and company-specific experience may fare better in court: In Ringgold Telephone Co. v. Comm’r, T.C. Memo. 2010-103 (May 10, 2010) the U.S. Tax Court assessed the built-in capital gains tax triggered by a telecomm [...]
Expert’s discounted cash flow analysis fails Daubert test in Anheuser Busch case
Warren Distributing Co. v. InBev USA, LLC, 2010 WL 2179167 (D. N.J.)(May 28, 2010) In 2006, New Jersey passed the Malt Alcohol Beverage Practices Act—a “watershed moment in the history of brewer-distributor relationships … that led to a new world of rights and inherent value,” according to the federal district court. In particular, the law [...]
SC Supreme Court persuaded regarding use of normalization adjustments
First the trial court found that two shareholders in a South Carolina medical supply company had been diverting funds to pay themselves excessive salaries. Next, it ordered the shareholders to buy-out the dissenting owners and appointed a business appraiser to determine statutory fair value. In his engagement letter, the appraiser agreed to comply by the [...]
Y/S Advisory Services discuss the state of the business valuation market
BVR’s Blake Lyman recently sat down to discuss the state of the business valuation industry with Kevin Yeanoplos and Ron Seigneur. With over two decades of experience each, Yeanoplos and Seigneur recently joined forces to form Y/S Advisory Services, a premier consulting service designed to help professionals in the business valuation space develop and grow [...]
LLC structure withstands IRS challenge; then taxpayer wins discount battle
Pierre v. Commissioner, 2010 WL 1945779 (U.S. Tax Ct.)(May 13, 2010) BusinessValuationLaw.com readers may remember the Tax Court’s first opinion in these proceedings. In Pierre v. Comm’r, 2009 WL 2591652 (Aug. 24, 2009)(Pierre I), the taxpayer formed a single-member family limited liability company (LLC). In assessing deficiencies of over $1.13 million, the IRS argued that [...]
You help your clients…but who helps you?
BVLaw™ is pleased to announce our association with Y&S Advisory Services. With over two decades of experience each, Kevin Yeanoplos and Ron Seigneur recently joined forces to form Y&S Advisory Services. The firm offers on-demand guidance for when you’re uncertain about the best approach to take with a specific business valuation impeachment or defense. They’re [...]
Forensic experts list favorite web tools for tracking individuals
The web offers lawyers (and their appraisers and forensic accountants) a huge number of new ways to track funds, and corporate entities—and particularly individuals. Some of Darrell Dorrell’s (Financial Forensics) favorite “covert” forensic tools for finding information on individuals were presented at the recent NACVA conference in Miami. They include: www.BlackBookOnLine.info www.veromi.net www.statsoft.com www.fincen.gov www.zoominfo.com www.accurint.com [...]
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