Business Valuation Update

November 2012

Vol. 18 No. 11

Table of Contents

Featured Articles

• Calculations, Appraisals and How to Satisfy Clients (Richard A. Warner, ASA, AVA)
• Analyzing the History of Bernier After the Most Recent Massachusetts Appeals Court Decision, Bernier II (Marc Bello, CPA/ABV, CVA, CFFA, MST)
• Was the DE Chancery Too Quick to Dismiss the Build-Up Method?
• Top 10 Trends in the Defense and Government Services M&A Markets (Mitch Martin, MBA, MPA)
• Making an Impact on Your Firm’s Value (Ellen Warden, SPHR)
• Spotlight on Healthcare: Top Five Drivers of Value for a Medical Practice (Carol Carden, CPA/ABV ASA, CFE)
• Valuation Q&A: Andersen Looks at Valuing Start-Up Wineries, Minority Interests, and Discounts for Personnel

Legal and Court Case Update

• Is Valuation Expert Allowed to Derive Key Rates for Real Property Appraisal?
• ‘Value of Use’ in Copyright Infringement Cases Is Still ‘Difficult’ and ‘Evolving’
• Judicial Buyout at Fair Value Trumps Buy-Sell at Book Value
• Flawed Expert Opinion Drastically Diminishes Plaintiff’s Lost Profits
• 5th Circuit Ratifies 47.5% Discounts to FLP Asset Values
• Management Buyout Fraught With Flawed ESOP Valuations
• Expert’s Evidence Is Key to Reversing a Zero Damages Verdict
• Securities Fraud Also Requires ‘Precise’ Apportionment Analysis
• Prohibition Against Expert’s Legal Opinions Not Absolute
• Federal Circuit Restricts Patent Damages to ‘Smallest Salable Infringing Unit’