Neither the literature of finance nor the literature of valuation practitioners has taken into account the relatively short life expectancy of firms. Fewer than 50% of new firms live longer than 10 years; yet, it is common practice to estimate firm value with a long-term horizon model such as the constant growth model. The purpose of this webinar is to increase awareness of the life expectancy of firms and demonstrate how to take account of the likelihood of firm death in valuation. Data on firm death rates and life expectancy that are available in the field of industrial organization are reviewed and summarized so valuation practitioners can take it into account in their valuations.