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The Comprehensive Guide to Lost Profits and Other Commercial Damages, Third Edition

The Comprehensive Guide to Lost Profits and Other Commercial Damages, Third Edition
Available Format(s): Online Version PDF Version Print Version
The 3rd Edition of The Comprehensive Guide to Lost Profits and Other Commercial Damages, edited by Nancy J. Fannon and Jonathan Dunitz, Esq., provides a deep and rich resource for financial experts and attorneys seeking guidance on damage calculations. The Guide focuses on financial evidence: how to gather it, interpret it, and tell its story in a lawsuit or litigation setting. Blending the financial expert’s knowledge of accepted methods and procedures with the attorney’s knowledge of legal issues and insights, it provides in-depth analysis and interpretation of the continually expanding body of case law.

Download a sneak peek of the book

Download a recent BVU article about the book

Key highlights of the new edition include:

  • Updated and expanded chapters covering all aspects of calculating lost profits / loss of business value
  • An insightful and comprehensive look at the unjust enrichment remedy
  • Substantive new materials on forensic accounting
  • A new chapter covering business interruption
  • Expanded coverage of benefit of the bargain damages
  • Expanded insights into intellectual property damages, including patents, trademarks and copyright
  • New and enhanced abstracts of many of the lost profit and damage cases found throughout the book

Ensure that you have the most up-to-date thinking on damages by adding The Comprehensive Guide to Lost Profits and Other Commercial Damages to your business library today!

TABLE OF CONTENTS

VOLUME ONE

  • About the Editors
  • Acknowledgments
  • About the Contributing Authors
  • Foreword
  • Chapter 1. Professional Standards for Experts
    By Michael A. Crain, CPA/ABV, ASA, CFA, CFE
    • 1.0 Certified Public Accountants
    • 2.0 Economists and Other Financial Experts (Non-CPAs)
    • 3.0 Conclusion
  • Chapter 2. The Process: A Brief Introduction to the U.S. Court Systems From Filing to Appeal
    By Jonathan M. Dunitz, Esq., and Cliff T. Hutchinson, Esq.
    • 1.0 Introduction and Overview of U.S. Court and Trial System
    • 2.0 The Rules of Evidence
  • Chapter 3. Spoliation of Evidence
    By David B. Chaffin and Rachel J. Eisenhaure
    • 1.0 Introduction and Overview
    • 2.0 Spoliation: Defined and Explained
    • 3.0 Sanctions for Spoliation
    • 4.0 Spoliation Issues Relating to Experts
    • 5.0 Spoliation Issues Relating to ESI
  • Chapter 4. A Guide to Electronic Discovery and Evidence
    Daniel K. Gelb, Esq., and Richard M. Gelb, Esq.
    • 1.0 What Is ESI and Where Does It Reside?
    • 2.0 Under What Circumstances Must ESI Be Preserved and What Protocol Should Be Followed for Doing So?
    • 3.0 How Should ESI Be Produced?
    • 4.0 How Should ESI Be Managed During Litigation?
    • 5.0 What Is Required for ESI to Be Admitted Into Evidence at Trial?
    • 6.0 How Can Financial Experts Assist With E-Discovery?
  • Chapter 5. Expert Depositions: Accountants, Economists, and Appraisers Scope Note
    By David L. Herzer Jr., Esq.
    • 1.0 Expert Depositions, Generally
    • 2.0 Expert Depositions, Financial Experts
  • Chapter 6. Motions to Exclude Financial Experts
    By Jonathan M. Dunitz, Esq.
    • 1.0 Basic Legal Predicate
    • 2.0 Factors to Consider in Making a Motion to Exclude an Expert
  • Chapter 7. Motions to Exclude Expert Testimony
    By Robert M. Lloyd, Esq.
    • 1.0 Expert Qualifications
    • 2.0 Methodology
    • 3.0 The Data
    • 4.0 Assumptions
    • 5.0 Failure to Deal With Inconsistent Facts
    • 6.0 Conclusion
  • Chapter 8. Context of the Lost Profits Damages Claim
    By Jonathan M. Dunitz, Esq., and Tyler L. Farmer, Esq.
    • 1.0 How a Claim for Lost Profits Arises
    • 2.0 Common Elements of Lost Profits Damages Cases
  • Chapter 9. Performing Credible Lost Profits Calculations— Assumptions, Documentation, and Analyses
    By James O’Brien, CPA, CFF, Robert Gray, CPA/ABV/CFF, CFE, and Greg Stillman
    • 1.0 Proper Planning
    • 2.0 Determining the Proper Damages Period
    • 3.0 Estimating the Relevant Lost Revenues and Associated Costs
    • 4.0 Sufficient Reliable Data
    • 5.0 Summary
  • Chapter 10. Establishing Evidence in Lost Profits Cases
    By Tom Burrage, CPA/ABV, CVA, CFF
    • 1.0 Introduction
    • 2.0 Establishing a Reliable Foundation for the Claim
    • 3.0 Data and Information Generally Available From the Parties
    • 4.0 Market and Demand for Plaintiff’s Product
    • 5.0 Industry and Economic Data
    • 6.0 Adequate Consideration of All Available Data
  • Chapter 11. The Reasonable Certainty Requirement in Lost Profits Litigation: What It Really Means
    By Robert M. Lloyd, Esq.,
    • 1.0 Balancing the Competing Concerns
    • 2.0 The Factors Courts Consider
    • 3.0 Replacing Rules With a Standard
  • Chapter 12. Calculating Damages for Early-Stage Companies
    By Neil J. Beaton, CPA/ABV/CFF, CFA, ASA, and Tyler L. Farmer, Esq.
    • 1.0 Legal Requirements: The Basic Parameters
    • 2.0 Methods for Proving Lost Profits for New Businesses
  • Chapter 13. Lost Profits Versus Lost Business Value
    By Tyler L. Farmer, Esq. and Neil J. Beaton, CPA/ABV/CFF, CFA, ASA
    • 1.0 Introduction
    • 2.0 Definition of Value in a Loss of Business Value Claim
    • 3.0 Considerations in Making the Claim for Lost Business or Lost Profits
    • 4.0 Comparison of Lost Profits Versus the Lost Value of a Business
    • 5.0 Can Plaintiffs Recover Both Lost Profits and Lost Business Value?
    • 6.0 Conclusion
    • 7.0 Additional Resources
  • Chapter 14. Discounting Lost Profits in Damage Measurements
    By Michael A. Crain, CPA/ABV, ASA, CFA, CFE
    • 1.0 Introduction
    • 2.0 Objective of Compensatory Damages: Making the Plaintiff Whole
    • 3.0 Interest Rates, Rates of Return, and Discount Rates
    • 4.0 Conclusion
  • Chapter 15. Discounting Damages: Case Law
    By Robert M. Lloyd, Esq.
    • 1.0 Cases Allowing a Risk-Free Rate
    • 2.0 Cases Requiring a Risk-Adjusted Rate
    • 3.0 Cases Allowing a Reinvestment Rate
    • 4.0 Other Opinions Discussing the Discount Rate
    • 5.0 Alternatives to Challenging the Discount Rate
    • 6.0 Conclusion
  • Chapter 16. Use of Forensic Evidence in a Lost Profits Case
    By Michael Kaplan, CPA/ABV/CFF, CVA, CFFA, and Rebekah Smith, CPA/CFF, CVA, CFFA
    • 1.0 Introduction
    • 2.0 Indicators That Forensic Evidence Is Needed
    • 3.0 Admissibility of Forensic Evidence
    • 4.0 Cases Demonstrating the Use of Forensic Evidence
  • Chapter 17. Financial Forensic Services for Internal Investigations
    By Peter Resnick, CPA, CFF, CFE, and Greg Naviloff, CPA (NY), CFF, CFE, ABV
    • 1.0 Introduction
    • 2.0 White-Collar Crimes and Financial Forensic Services
    • 3.0 Distinguishing Financial Audit From Financial Forensic Services
    • 4.0 Financial Forensic Services and Internal Investigations
    • 5.0 Engagement Acceptance
    • 6.0 Initial Allegation Response
    • 7.0 Phases of a Financial Forensic Internal Investigation
    • 8.0 Common Mistakes in Internal Investigations
  • Chapter 18. Business Interruption and Damage Claims
    By John Garaffa, Esq.
    • 1.0 Introduction
    • 2.0 Business Interruption Insurance Policy Issues
    • 3.0 Valuing Business Interruption
  • Chapter 19. Lost Profits for Physician Practices and Violation of Noncompete Agreements
    By Mark O. Dietrich, CPA/ABV
    • 1.0 Overview
    • 2.0 Basic Factors to Consider
    • 3.0 In-Depth Look at Special Issues in Identifying Damages
    • 4.0 Conclusion
    • 5.0 Glossary of Terms
  • Chapter 20. Lost Profits Issues Unique to the Government Contracts Industry
    By Patrick A. McGeehin, CPA, and Daniel E. Johnson, Esq.
    • 1.0 Government Contracting Types
    • 2.0 Government Contract Cost Analysis
    • 3.0 Application of Government Contract Principles to Lost Profits Disputes
    • 4.0 Conclusion
  • Chapter 21. Construction Claims
    By Colin A. Johns, CPA/CFF, CFE, CA, and Greg A. McKinnon, CPA/CFF, CMA
    • 1.0 Introduction: Definition and Presentation of Construction Claims
    • 2.0 Claim Pricing Methodologies
    • 3.0 Claims for Delay
    • 4.0 Disruption
    • 5.0 Acceleration
    • 6.0 Typical Causes of Construction Claims
    • 7.0 Lost Profits on Impairment of Working Capital and Bonding Capacity
    • 8.0 Summary
  • Chapter 22. Lost Profits for Automobile Dealerships
    By Timothy W. York, CPA/ABV
    • 1.0 Franchise Relationships
    • 2.0 Lost Profits Considerations
    • 3.0 Understanding the Dealership Business
    • 4.0 Relevant Resources
    • 5.0 General Bibliography
  • Chapter 23. Lost Profits Analysis in Eating Establishments
    By Ron Seigneur, CPA/ABV, ASA, CVA, CFF, CGMA
    • 1.0 Introduction
    • 2.0 General Background of Restaurant Industry
    • 3.0 Financial Performance
    • 4.0 Establishing Causation for Losses of Eating Establishments
    • 5.0 Forensic Considerations
    • 6.0 Examples of Lost Profits in Restaurants
    • 7.0 Restaurant Industry Resources
    • 8.0 Notable Case Law Relating to Restaurants
  • Chapter 24. Intellectual Property Overview
    By Michael A. Crain, CPA/ABV, ASA, CFA, CFE
    • 1.0 Overview: Comparing IP Valuation to IP Damages Measurements
    • 2.0 Summary
  • Chapter 25. Patent Infringement Damages: Lost Profits and Royalties
    By Richard F. Bero, CPA/ABV, CVA, CLP, CFF
    • 1.0 Federal Law Governing Patent Infringement
    • 2.0 The Patented Technology at Issue
    • 3.0 Lost Profits in Patent Infringement Cases
    • 4.0 Substitute Products
    • 5.0 The Market at Issue
    • 6.0 The Patent Owner’s Products
    • 7.0 Alternative Actions Available to the Infringer
    • 8.0 Market Share Damages
    • 9.0 Price Erosion
    • 10.0 Collateral Sales—Lost Profits
    • 11.0 Royalty Damages
    • 12.0 Reasonable Royalties
    • 13.0 Post-Verdict Royalties
    • 14.0 Limitations on Damages
    • 15.0 Damages Against the U.S. Government Under §1498
    • 16.0 Prejudgment Interest
  • Chapter 26. Successfully Using Experts in Patent Infringement Cases
    By William J. Marsden Jr., Esq., and Timothy Devlin, Esq.
    • 1.0 A Primer for Attorneys on Patent Damages
    • 2.0 Reasonable Royalty Damages
    • 3.0 Ongoing Royalties and Mandatory Licenses
    • 4.0 Additional Types of Damages and Limitations
    • 5.0 Recent Updates
    • 6.0 Case-Based Examples
    • 7.0 Conclusion
  • Chapter 27. Lost Profits in Trademark and Copyright Cases
    By Richard Hoffman, Mark Glick, Ph.D., J.D., and Milan Politi ,J.D.
    • 1.0 Trademark Damages
    • 2.0 Copyright Damages
    • 3.0 Summary of Copyright Infringement Damages
  • Chapter 28. Introduction to Equitable Remedies
    By George P. Roach
    • 1.0 Advantages
    • 2.0 Disadvantages
    • 3.0 Basis of Equitable Remedy
    • 4.0 Variation by Jurisdiction
    • 5.0 Discretion and Limited Jurisdiction
    • 6.0 Decline in Familiarity
    • 7.0 Conclusion
  • Chapter 29. Counting the Beans: Unjust Enrichment and the Defendant’s Overhead
    By George P. Roach
    • 1.0 Introduction
    • 2.0 Relevance
    • 3.0 Semantics
    • 4.0 The Origins of Unjust Enrichment: Defendant as Quasi-Trustee
    • 5.0 The Origins of Unjust Enrichment: The Americanization of ‘Profit’
    • 6.0 Remedy Measurement in Related Areas of the Law
    • 7.0 The 2nd Circuit: An Uneven Commitment to Consistency?
    • 8.0 Willfulness and Overhead
    • 9.0 Survey by Circuit
    • 10.0 Incremental Versus Full Absorption
    • 11.0 Conclusions
  • Chapter 30. Restitution Rollout: The Restatement (Third) of Restitution & Unjust Enrichment: Counter-Restitution for Monetary Remedies in Equity
    By George P. Roach
    • 1.0 Introduction
    • 2.0 Anti-Netting Doctrine as a Genetic Marker for Monetary Remedies in Equity
    • 3.0 Monetary Remedies in 19th Century IP Case Opinions
    • 4.0 Semantics
    • 5.0 Quasi-Trustee
    • 6.0 Counter-Restitution
    • 7.0 Disgorgement by Default
    • 8.0 Gross Disgorgement Cases
    • 9.0 FTC Claims for Gross Disgorgement
    • 10.0 Conclusion
  • Chapter 31. Post-Acquisition Disputes and Related Damages
    By Jeff Litvak, CPA/ABV/CFF, ASA, Kenneth Mathieu, CPA/ABV/CFF,
    Jared Bourgeois, CPA/ABV, CFE, and Kevin R. Shannon, Esq.
    • 1.0 Introduction
    • 2.0 Overview of the Transaction Process
    • 3.0 Breach of Contract Claims in Post-Acquisition Disputes
    • 4.0 Pitfalls to Avoid in Assessing Breach of Contract Damages
    • 5.0 General Process for Resolving Post-Acquisition Disputes
    • 6.0 Case Study
    • 7.0 Insights and Observations Regarding Merger and Acquisition Disputes
    • 8.0 Conclusion
  • Appendix A. Links to Ethical Guidelines Published by Member Organizations
  • Appendix B. Links to Requirements for Certifications, by Organization
  • Appendix C. Decision Tree to Determine the Application of Professional Standards
  • Appendix D. Comparison of AICPA Professional Standards and Federal Rule of Evidence 702
  • Appendix E. Federal Rules of Evidence Pertaining to Expert Testimony
  • Appendix F. Federal Rules of Civil Procedure Pertaining to Expert Testimony
  • Appendix G. Sample Scheduling Orders
  • Appendix H. Reference Manual on Scientific Evidence: 3rd Edition (2011), Selected Sections

VOLUME TWO

  • Introduction
  • Court Case Summary Table
  • Court Case Abstracts
Author/Editor: Nancy Fannon and Jonathan Dunitz
Publisher: Business Valuation Resources, LLC
Published: March 2014

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