Many interesting topics were discussed at the 2019 Annual Consultants’ Conference this past June in Salt Lake City presented by the National Association of Certified Valuators and Analysts (NACVA) and the Consultants’ Training Institute. We’ve identified some of the notable takeaways for those of you who could not attend. Read more >>

In BVR’s recent webinar, The Devil in the Valuation Details: Top 10 Questions Lawyers and Healthcare Organizations Ask, experts Jessica Stack and Denise Palencik (both of Veralon) covered the top 10 questions that valuation analysts should be prepared to answer when valuing a healthcare business. Here, we summarize five of the questions and answers. Read more >>

By the start of the 21st century, 50% of all basic research was credited to universities, some major examples being antibiotics, plastic, and even Google. Patent activity can offer insight into where the top universities (including colleges) across the world have recently been focusing their efforts, both geographically and industrially. Read more >>

Whether you are a business appraiser, a winery owner, or an investor, wineries are very unique to assess and have many variables that affect the value. Beyond the different valuation methods and how they can be applied to the wine industry, there are unique, industry-specific factors to be considered. Read more >>

Vertical IQ, an easy-to-use online service that focuses on the financial aspects of how firms operate in a particular industry, quickly turns you into an industry expert with hard-to-find intelligence on small- and medium-sized businesses. The following covers many of the unique areas of pest control services, which specialize in residential or non-residential services, including the industry forecast, business size and structure, profit drivers, and risks to watch out for. Read more >>

In the closely watched Vinoskey ESOP litigation, the trial court recently issued a long decision that found all the defendants liable. Read more >>

Business Valuation Resources recently published EBITDA multiples by industry in our DealStats Value Index (DVI). DVI presents an aggregated summary of valuation multiples and profit margins for over 30,000 sold private companies listed in our DealStats database. This post includes some of the highlights from the report. Read more >>

Hospital valuations require a thorough understanding of the industry and, specifically, the challenges and opportunities related to the Affordable Care Act (ACA) and overall transformation within the healthcare industry. In BVR’s publication, Guide to Ancillary Healthcare Services Valuation, contributors G. Don Barbo and Robert M. Mundy cover some of the top challenges hospitals face and how these challenges have changed the way hospitals conduct business. Read more >>

At the recent AAML/BVR divorce conference, held May 8-10 in Las Vegas, one of the sessions that best conveyed the advantages of an interdisciplinary discussion was on ethics. The topic was “Ethics Violations: How to Avoid the Letter No One Wants to Receive,” and the speakers were Marie Ebersbacher (CBIZ MHM LLC), an appraiser and financial forensics expert, and Lawrence Moskowitz (Perry, Johnson, Anderson, Miller & Moskowitz LLP), a family law attorney. Read more >>

In the recent patent infringement case, Meridian Mfg. v. C&B Mfg. (Oct. 5, 2018), both parties raised Daubert challenges to the opposing expert’s damages opinions. This provides a good reminder of key legal principles informing reasonable royalty and lost profits calculations. Read more >>

In my last Perspective (November 2018), I touched on the importance of why using the “right” level of profit was important when comparing valuations of one’s firm to others on an earnings multiple basis (e.g., 4.2x EBITDA, 3.9x EBIT, etc.). Although there are various levels of profit that firms rely on for quick pricing indications, I focused solely on EBIT (earnings before interest and tax) and EBITDA (earnings before interest, tax, depreciation & amortization) for the sake of simplicity. Read more >>

Over 160 business valuation, forensic, and litigation support (BVFLS) firms responded to BVR’s survey conducted in late 2018 on their best practices in financial management, marketing, human resources, compensation, and professional and ownership standards. While respondents said they use many different marketing techniques, the one-on-one meeting with prospective clients continues to be the best way to bring in valuation business. Read more >>

Florida has a history of wavering when it comes to the standard for admissibility of expert testimony. Not too long ago, the state Supreme Court frustrated legislative efforts to move the state from the Frye standard to the Daubert standard only to reverse itself recently by announcing the adoption of Daubert. Read more >>

It happens more than you think. Smart experts who know what to say sometimes falter in how they say it. How can you ensure this doesn’t happen to you as an expert? In a recent article published in BVR’s Business Valuation Update, expert Deborah Johnson, MC, covers the secrets to expert testimony that engage and persuade the court including what jurors want, a polished preparation, hard skills vs. soft skills, and more. Read more >>

According to BVR's recent guide, Firm Economics & Best Practices Guide, 2019-2020 edition, the BVFLS industry seems to be on an uptick. What are some of the specific practices used to guarantee these great results? A partial list of the most successful new management practices or policies are listed here. Read more >>

Business Valuation Resources (BVR) recently launched a free ezine that follows the business valuation profession and its expanding role in regulatory, fiscal, contentious, and compliance valuations in the United Kingdom. Read more >>

When a physician gets divorced, the value of his or her ownership interest in the practice is often included as an asset for property distribution purposes. In the BVR/AHLA Guide to Healthcare Industry Finance and Valuation, contributing author Stacey D. Udell dives into how the value of a physician practice is based on the valuator’s informed judgment applied to the specific facts and circumstances. Read more >>

Hundreds of family law attorneys and financial experts converged last week in Las Vegas for the first event the American Academy of Matrimonial Lawyers (AAML) and Business Valuation Resources (BVR) co-sponsored. Attorneys along with valuation, forensics, wealth and other financial experts co-presented the sessions, which gave invaluable perspectives on the topics. Read more >>

One aspect that has valuators excited about the Kress v. United States gift tax case is that the federal court that ruled on the taxpayers’ challenge to the IRS’s gift tax assessment accepted valuations from both parties’ experts that applied a C corporation tax rate to value minority shares in an S corporation. Read more >>

This is the second installment in ktMINE's Cannabis series. In Part I, it discussed the marijuana IP landscape in general and explored trademarks in the industry. In this post, it investigates the potential movement of Big Pharma and multinational agricultural corporations into the cannabis space. Read more >>