Business Damages and Business Valuation for Attorneys
Course Overview
“If a party’s lawyer cannot understand the testimony of the party’s own expert, the testimony should be withheld from the jury. Evidence unintelligible to the trier or triers of fact has no place in a trial.” (ATA Airlines v. Federal Express)
Attorneys who practice in the areas of business litigation, family law, employment law, intellectual property law and other areas involving financial issues typically retain CPA’s, Valuation Experts and Economists to present expert testimony relating to the financial issues. Attorneys who have an understanding of the expert’s work are much better positioned to use the expert’s analysis most effectively throughout the proceeding, craft direct examination that will present the expert to be most credible and persuasive, and to be prepared to strategically cross-examine the opposing expert.
In this one-day workshop, we explore the world of financial experts – CPA’s, Damages Experts, Business Valuation Experts and Economists. We focus upon the areas of business valuation, lost profits and damages, addressing the generally accepted approaches, case law, evidentiary foundation, strengths, weaknesses and risks. We will also identify key questions for attorneys to ask their own financial experts to facilitate a sufficient understanding of the expert’s analysis and opinions and an informed perspective of each side’s strengths and weaknesses on the financial issues in the case.
The program is interactive and is lead by our seasoned faculty that includes CPAs, and trial attorneys with extensive experience in the courtroom presentation of financial evidence and financial experts.
Program Objectives
Upon completion of the program, attendees will be able to:
- Explain the three basic approaches to lost profits measurement.
- Describe the conditions under which each approach should be used.
- List the variables that enter into a lost profits calculation.
- Describe the strengths and weaknesses of each of the approaches to lost profits measurement.
- Outline direct examination of a damages expert to facilitate the expert’s persuasiveness and credibility.
- Identify the foundational evidence required to support a defensible lost profits analysis.
- Explore approaches that best incorporate the lost profits analysis into the theme of the case.
- Prepare and implement effective cross-examination of the damages expert presented by opposing counsel.
- Explain the three basic approaches to business valuation.
- Identify various methods of valuing a business under each approach.
- List the variables that enter into a business valuation.
- Describe the strengths and weaknesses of each of the approaches to business valuation.
- Identify the factors that indicate the appropriateness of each of the approaches on a case specific basis.
- Identify the foundational evidence required to support a defensible business valuation analysis.
- Explore approaches that best incorporate the business valuation analysis and opinions into the theme of the case.
