We are delighted to publish this newsletter focused on Business Valuation issues and make it available to our clients and to accountants, attorneys, other financial advisers concerned with private business values. Please be sure to send us your comments. This newsletter has been published on a regular basis by JLP&Co.LLC since 1998. A subscription link can be found below!

This issue contains the following articles:

In a World of Diverse BV Standards, Credentials and Competency are Critical.

New Study Finds Daubert Challenges up By Two Hundred Percent.

Recent Daubert Case Emphasizes Correct Measure of Damages.

Valuation Experts Required To Have Clear Credentials, Experience, and Methods.

Lost Profits Calculation Must Also Include Reasonable Expenses.

Lost Profits Evidence Turns on Key Expert Assumptions.




Click Here to Read/Download this Newsletter !

You need the Acrobat Reader in order to read PDF format files; click here and download a free copy from Adobe Software:

Here is the Spring 2008 issue in PDF format.TOPICS/KEYWORDS: Diverse BV Standards; Daubert Challenges; Correct Measure of Damages; Clear Credentials, Experience and Methods; Reasonable Expenses in Lost Profits; Expert Key Assumptions.

Here is the Winter 2007 issue in PDF format.TOPICS/KEYWORDS: PCAOB; Intangibles; IRC 409A; Federal Disclosure Deadlines; Expert Report; "Bad Facts" FLP in Divorce; Professional Goodwill/Firm Goodwill..

Here is the Fall 2007 issue in PDF format.TOPICS/KEYWORDS: AICPA Valuation Standards; Attorney's Lien; Buy-Sell; Owner's Projection or Financing Projections credibility; "Splitting the difference."

Here is the Summer, 2007 issue in PDF format.TOPICS/KEYWORDS: Economic Damages; Fair Value; Shareholder Dispute; Overly Litigious Clients; Backdating Options [DE.]

Here is the Spring, 2007 issue in PDF format.TOPICS/KEYWORDS: Judicial Appraisal; Allocation of Stock Purchase Price to Non-Compete Covenant; Personal v. Enterprise Goodwill in divorce [Kentucky;] Post-valuation sale of stock in divorce [N.Y.]

Here is the Winter, 2007 issue in PDF format.TOPICS/KEYWORDS: Buy-Sell Agreements; Fair Value; ESOP appraisal; Reasonable Compensation Analysis

Here is the Fall, 2006 issue in PDF format.TOPICS/KEYWORDS: USPAP 2006; Standards Rule 9; Non-Compete Agreement; Fairness of Settlement to Class Action; Buy-Sell Agreement

Here is the Summer, 2006 issue in PDF format.TOPICS/KEYWORDS: Litigation and Forecasts-based Valuation do not mix [FL Appeals Court;] Fairness Opinions should be prepared by independent parties [U.S. District Court IL;] Motion Picture Director does not Generate Divisible Goodwill [CA matrimonial matter;];] NYS Court Decides Who Has Burden to Prove Valuation Date for Active/Passive Asset [NYS matrimonial matter;]; Fair Value analysis does not involve any discounts for minority or lack-of marketability [MD Appeals Court.]

Here is the Spring, 2006 issue in PDF format.TOPICS/KEYWORDS: Stock options standard [WI;] seasonal business debt capacity; unrealistic projections [Delaware Chancery;] standards for expert in bankruptcy valuation [EDNY;] expert in US Tax Court must be available for cross examination; Personal versus Professional goodwill [TX.]

Here is the Winter, 2005 issue in PDF format.TOPICS/KEYWORDS: Shareholder Dispute; Timberland fractional valuation; non-compete PC divorce valuation [FL;] American Jobs Creation Act '04; Risks and Value [Damodaran;] Components for calculating personal goodwill [Dietrich.]

Here is the Fall, 2005 issue in PDF format.TOPICS/KEYWORDS: BV Professionals; Business Interruption; Commercial Loss; SEAM; Condemnation proceeding; travelocity.com.

Here is the Summer, 2005 issue in PDF format.TOPICS/KEYWORDS: Facts Verification; Fairness Opinions; ESOPs scrutiny; Imputed Income.

Here is the Spring, 2005 issue in PDF format.TOPICS/KEYWORDS: IPO Studies; Real Estate Holding Entities; DCF Analysis; Medical Practices Valuation.

Here is the Winter, 2004 issue in PDF format.TOPICS/KEYWORDS: How Valuation Experts Determine Damages; Management Interviews; NAV Helps Appraisers Calculate FMV; Ratio Analysis; "BIG" Discounts.

Here is the Fall, 2004 issue in PDF format.TOPICS/KEYWORDS: Liquidation Analysis; Recent FLP Victory Appeals Victory Provides Hope for Estate Planners; Complex marital estates demand complex valuation expertise.

Here is the July/August, 2004 issue in PDF format.TOPICS/KEYWORDS: A Valuation Challenge: Development Stage Technology Companies; Be Prepared: Key Valuation Provisions in Buy-Sell Agreements; Dental Practice Valuations; Can the "Reasonably Foreseeable" Rule be broken ?.

Here is the May/June, 2004 issue in PDF format.TOPICS/KEYWORDS: Getting The Most From Your Expert Witness; What's Normal [how normalized financial statements affect value;] Consider Less Obvious Value Indicators; Experts Expect The Unexpected in Court.

Here is the March/April, 2004 issue in PDF format.TOPICS/KEYWORDS: Whose opinion ? [The team expert approach;] Limited Partnerships versus Assignee Interests: which is worth more? The ins and outs of quantifying damages; medical practice transfer issues.

Here is the January/February, 2004 issue in PDF format.TOPICS/KEYWORDS: Is an ESOP Right For Your Client ? The Loss of Earnings model in wrongful termination cases; Detecting Valuation Errors; How to find weakness in the 3rd party limiting condition.

Here is the November/December, 2003 issue in PDF format.TOPICS/KEYWORDS: A Venture Capitalist's View of Value ; Seize the Valuation Opportunity - The Importance of Knowing Where You Stand ; How To Test The Business Damages Model ; Reflecting the Trapped Capital Gains Taxes Adjustment.

Here is the June, 2003 issue in PDF format.TOPICS/KEYWORDS: ESOP Ownership in S Corporations - IRS issues Ruling 2003-6 ; Key Man Risk / Succession Planning ; Calculation of Damages: an appraisal perspective.

Here is the March, 2003 issue in PDF format.TOPICS/KEYWORDS: Valuation Implications of Valuing a Business Using a Measure Other Than Income or Cash Flow; Litigation Update: When to Call In A Business Appraiser; Purchase Price Allocation: Why Now ?

Here is the December, 2002 issue in PDF format.
TOPICS/KEYWORDS: Valuing Intangible Assets - A Primer [Remember SFAS 141/142 ?]; Is It Reasonable ? Asset Holding Entity Information [Read: FLPs and FLLCs.]

Here is the September, 2002 issue in PDF format.
TOPICS/KEYWORDS: Stock Options Valuation; Divorce & Valuation Terms; Dunn v. Commissioner [5th US Circuit of Appeals: Docket # 00-60614;]SARBANES-OXLEY.

Here is the June, 2002 issue in PDF format.
TOPICS/KEYWORDS: Why Do You Need A Business Appraiser ? Carrying Amount Conundrum - SFAS 142 Update.

Here is the March, 2002 issue in PDF format.
TOPICS/KEYWORDS: Valuation and Business Concentrations. When Down Is Not Necessarily Down. The Relationship Between Size and Value.

Here is the December, 2001 issue in PDF format.
TOPICS/KEYWORDS: Valuing Fractional Interests in Real Estate. Top Ten Things Every Attorney Should Know About Business Appraisal.

Here is the September, 2001 issue in PDF format.
TOPICS/KEYWORDS: IRS Issues Proposed Business Valuation Guidelines. Deals Are Still Getting Done - Even in An Uncertain Marketplace. Using a Business Analyst When Litigating a Valuation Issue.

Here is the June, 2001 issue in PDF format.
TOPICS/KEYWORDS: Ten Easy Mistakes To Watch For in Business Appraisals. Financial versus Stretegic Buyers. Simplot Reversed !

Here is the March, 2001 issue in PDF format.
TOPICS/KEYWORDS: Valuing Employee Stock Options. Case Law Update: J. C. Shepherd vs. Commissioner [115 T.C. no.30 Released October 26, 2000.]

Here is the December, 2000 issue in PDF format.
TOPICS/KEYWORDS: Valuation and The New Economy. ESOP ownership in S Corporations. Understanding The Guideline Company Method.

Here is the September, 2000 issue in PDF format.
TOPICS/KEYWORDS: Common Reasons for NOT Obtaining An Independent Appraisal - and Why They Are Wrong. An Overview of Valuation Approaches. A View from One U.S. Tax Court Judge [Judge Laro.]

Here is the June, 2000 issue in PDF format.
TOPICS/KEYWORDS: IRS Finalizes New Adequate Disclosure Requirements For Valuations Filed With Gift Returns. "Church vs. State."

Here is the March, 2000 issue in PDF format.
TOPICS/KEYWORDS: Buy-Sell Agreements (The Three Appraisers Pricing Mechanism.) An Interesting Divorce Valuation. Understanding the Valuation Process.

Here is the December, 1999 issue in PDF format.
TOPICS/KEYWORDS: The IRS and Family Limited Partnerships. Developing Valuation Multiples Using Comparable Public Companies. Foote vs. Commissioner (blockage discount.)

Here is the September, 1999 issue in PDF format.
TOPICS/KEYWORDS: The Source of Control Premium Data and What It Does Not Tell You. Well-reasoned, Persuasive Appraisal Reports (Estate of Alice Friedlander Kaufman vs. Commissioner.)

Here is the June, 1999 issue in PDF format.
TOPICS/KEYWORDS: Information Requirements of a Business Appraisal. The Importance of Fairness Opinions in Transactions Involving ESOPs. Federal Rules of Evidence & Expert Testimony.

Here is the March, 1999 issue in PDF format.
TOPICS/KEYWORDS: FLPs (Lessons from the Tax Court on Business Purpose.) Bosca vs. Commissioner. Valuation Expert vs. Industry Expert.

Here is the December, 1998 issue in PDF format.
TOPICS/KEYWORDS: Assessing the Quality of a Company's Earnings. Publicly Traded Securities.

Here is the September, 1998 issue in PDF format.
TOPICS/KEYWORDS: Davis vs. Commissioner. Fundamentals of a Solid Business Appraisal. Closing the FLP loop?

Download the free Adobe Reader here!

(Back to The Main Page- Directory of Services)

J.L. PIERSON & CO. LLC
Business Valuation : NY, NJ, CT, etc.

Contact us: P.O. Box 2392
Darien, CT 06820-0392
Voice: (203) 325-2703
Fax: Please ask us !

e-mail: info@NYNJCT-BV.com
W3: http://jlpierson.com
W3: http://NYNJCT-BV.com

PLEASE E-MAIL YOUR COMMENTS HERE! THANK YOU:

Copyright © 1998-2008, J.L. Pierson & Co. LLC
Revised -- 03/14/08
URL:NYNJCT-BV.com