It should come as no surprise that, as Patrick McGeehin and Daniel Johnson point out in The Comprehensive Guide to Lost Profits Damages for Experts and Attorneys, "lost profit disputes arise frequently in the government contracts industry." Yet the breadth and complexity of these claims may surprise many appraisers unfamiliar with this sector of the economy. From the government and contractor through subcontractors, suppliers, and competing businesses, the depth of parties involved and the nature of their contracts can make assessing these claims very challenging, to say the least.
"Lost Profits Issues Unique to Government Contracts," Part 10 of BVR's Online Symposium on Litigation & Economic Damages, features expert appraiser McGeehin and attorney Johnson examining where the opportunities and pitfalls lie in assessing lost profits claims relating to government contracts. Their discussion will include a review of government contract types, how cost amounts factor into those contract vehicles, and what all attorneys and appraisers should know when reviewing a lost profits claim related to a government contract.