Global BVU News and Trends January 2024
Business valuation news from a global perspective.
AI-generated George Carlin triggers right of publicity lawsuit
A “comedy AI” tool has created an “impersonation” of George Carlin that has triggered a lawsuit by his estate, claiming violations of the late comedian’s right of publicity and copyright, reports Variety.
Survey results: Data collection tools
More than two-thirds (78%) of valuation experts use an online tool to collect documents and other information from clients, according to the first in a series of “Two-Minute Practice Builder” surveys.
USPAP Q&A addresses AI
AI tools are not a substitute for an appraiser’s judgment.
Reminder: The 2024 Pepperdine private cost of capital survey is open
Each year, Pepperdine University conducts an annual survey of expected rates of return with respect to private companies.
To retain good BV people, give them a purpose, advises Borrowman
BVWire has heard from young BV professionals that they are sometimes in the dark about the work they are doing.
Global BV News: Slide decks available for OIV BV conference
In Italy, the Organismo Italiano di Valutazione (OIV) is the business valuation standard-setter, and it just held its conference this past week.
BV movers . . .
Renil Thomas James, CFA, has joined New York City-based Mark S. Gottlieb, CPA, PC, as manager-valuation analyst.
CPE events
Quantifying DLOMs for Minority and Controlling Interests, February 13, 10:00 a.m.-11:40 a.m. PT/1:00 p.m.-2:40 p.m. ET. Featuring: Bruce A. Johnson (Munroe, Park & Johnson Inc.). CPE credits: 2.0.
Court KO’s market comp analysis due to industry choice
What business is your subject company in?
Valuing What You Cannot See: Intangible Assets
Accounting has historically done a poor job dealing with intangible assets, and, as the economy has transitioned away from a manufacturing-dominated 20th century to the technology- and services-focused economy of the 21st century, that failure has become more apparent. The resulting debate among accountants about how to bring intangibles onto the books has spilled over into valuation practice, and many appraisers and analysts are wrong, in my view, letting the accounting debate affect how they ...
2023 Discount for Lack of Marketability Study
January 2024 PDF (9 pages)
Bruce A. Johnson, James R. Park
Partnership Profiles, Inc.
Bakeries, Commercial
This U.S. industry comprises establishments primarily engaged in manufacturing fresh and frozen bread and bread-type rolls and other fresh bakery (except cookies and crackers) products.
Size and Capitalization Adjustments for Market-Based Pricing Multiples
Free Downloads
I. Introduction The ideal methodology to value an asset is to observe the prices paid for that asset in the open market. However, when valuing shares of a privately held company, no such marketplace exists. Valuation theory thus includes consideration of three commonly accepted approaches to value: the market approach, the income approach, and the asset approach. Each approach contains various valuation methodologies. The choice of which approaches and methodologies to utilize depends on the speciÞc facts and circumstances of the valuation. Under the market approach ...
Where, Oh Where, Can My Patent Be; The Government Took It Away From Me
The Biden administration has indicated that it is preparing to seize some patents from Big Pharma.
Connelly case kicks off Heckerling conference
At the Heckerling Institute on Estate Planning in Orlando, Fla., earlier this month, the first session was a panel on key court cases of 2023, and “valuation was top of mind for many federal courts,” according to coverage in WealthManagement.com.
Damodaran posts his second data update for 2024
Focusing on the equity markets in the U.S. and across the world, Professor Aswath Damodaran (New York University Stern School of Business) has posted his second data update of 2024.
2023 NACVA Porter Award recipient gives back in a big way
A few years ago at a conference, BVWire had the pleasure of chatting with J. Richard Claywell, a Houston practitioner who has been providing business valuation and forensic accounting services since 1985.
Last call! Take a survey on data collection tools
Please take a two-minute survey about the use of portals to collect client data. We will publish the results in next week’s BVWire.
One-on-one encounters make attending live conferences a unique experience
In today’s world, some people may automatically choose the “attend virtually” option when registering for a conference, or they may want to attend in person, but there’s not enough in the travel budget to allow for it.
Global BV News: Webinar series explains IVS update
Next month, the International Valuation Standards Council (IVSC) will host a series of webinars exploring the latest and most significant updates to the International Valuation Standards (IVS), which are set to be released at the end of this month.
BV movers . . .
Jon Klerowski, CPA, ABV, CFE, has been admitted as a partner at New York City-based PKF O’Connor Davies.
CPE events
Next in Line! Valuing a Limited-Service Restaurant, January 25, 10:00 a.m.-11:40 a.m. PT/1:00 p.m.-2:40 p.m. ET. Featuring: Lynton Kotzin (JS Held). CPE credits: 2.0.
Court figures fair value of startup biotech for dissenters
In a dissenting shareholder case in a federal district court in Georgia, neither the Black-Scholes method nor the prior transactions method convinced a court of the value of a startup biotech company.