BV News and Trends March 2024
A monthly roundup of key developments of interest to business valuation experts.
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.
Bieber sells music rights; what are the value drivers?
Singer Justin Bieber has sold his music rights for around $200 million, according to various reports.
Expert’s testimony excluded regarding licensing tattoos to video games
In a copyright infringement case in federal court in Ohio, a tattoo artist sued a video game company for depicting NBA players adorned with his copyrighted tattoos.
Hayden v. 2k Games, Inc.
The defendants in this case regarding licensing of tattoo designs for a video game moved to exclude the testimony of the plaintiff’s expert regarding a “Market Opinion.” The motion was granted in part and denied in part by the court.
U.S. District Court Excludes Testimony Speculating What Is in People’s Minds and Certain Legal Determinations
The defendants in this case regarding licensing of tattoo designs for a video game moved to exclude the testimony of the plaintiff’s expert regarding a “Market Opinion.” The motion was granted in part and denied in part by the court.
Prince estate and IRS settle valuation dispute
The IRS and Comerica Bank and Trust, the administrator of the estate of rock star Prince, have agreed to settle their dispute and agree on an estate value of $156.4 million, according to settlement documents submitted in the case.
BV News and Trends October 2021
A monthly roundup of key developments of interest to business valuation experts.
Prince estate valuation featured on latest AICPA podcast
In the shadow of the recent court decision in the Michael Jackson estate valuation dispute, the estate of pop star Prince is currently locked in a fierce estate and gift tax dispute.
Estate of Michael J. Jackson v. Commissioner
Tax Court mostly sides with estate of late superstar in valuing three contested assets; assets had to be valued separately, based on parties’ stipulations, and at death; court says Jackson’s “tattered” image and likeness meant he earned little money apart from his music; court rejects tax affecting.
Tax Court Hands Jackson Estate Major Win but Finds Reasoning for Tax Affecting Unpersuasive
Tax Court mostly sides with estate of late superstar in valuing three contested assets; assets had to be valued separately, based on parties’ stipulations, and at death; court says Jackson’s “tattered” image and likeness meant he earned little money apart from his music; court rejects tax affecting.
BVU News and Trends March 2021
A monthly roundup of key developments of interest to business valuation experts.
Prince estate and IRS embroiled in fierce valuation dispute
A recent article in the Star Tribune says the executor of the estate of Prince, the late world-famous rock star, and the Internal Revenue Service are currently locked in a fierce estate and gift tax dispute.
Court Limits Damages for Copyright Infringement, Noting Lack of ‘Causal Nexus’
Ruling on defendant’s post-trial motions, court reduces damages for copyright infringement where plaintiff’s expert included in damage calculation defendant’s profits for years for which the plaintiff failed to show “causal nexus” between profits claimed and the actual infringement.
Infogroup, Inc. v. Database USA.com LLC
Ruling on defendant’s post-trial motions, court reduces damages for copyright infringement where plaintiff’s expert included in damage calculation defendant’s profits for years for which the plaintiff failed to show “causal nexus” between profits claimed and the actual infringement.
‘Lady Liberty’ Stamp Costs USPS Millions in Copyright Infringement
Court finds USPS’s unauthorized use of image of Las Vegas Lady Liberty on stamps infringed creator’s copyright and awards damages resulting from a hypothetical mixed license; USPS’s unique licensing history does not limit damages under applicable fair market value measure of damages.
Davidson v. United States
Court finds USPS’s unauthorized use of image of Las Vegas Lady Liberty on stamps infringed creator’s copyright and awards damages resulting from a hypothetical mixed license; USPS’s unique licensing history does not limit damages under applicable fair market value measure of damages.
Questions to ask when valuing intellectual property
Only after a thorough due diligence is done can an analysis be made of what intellectual property is worth.
Excess Earnings Method Best Suited to Value New York City Practice
In divorce case, New York trial court prefers excess earnings over price-to-revenue method to value wife’s dental practice, because the former accounts for the business’s lack of tangible assets—a fact specific to professional offices in New York where re ...
Estate of Michael Jackson sues the IRS
Michael Jackson’s estate is suing the IRS over valuation—assets causing the problem include amounts attributable to the singer’s likeness and intellectual property.