Development Standards and the Guidance Provided by the Kohler Decision The General and Ethical standard sets the overall values that must guide every expert in the exercise of his/her profession. One of the key steps in the Development Standard is the site visit and management interview. Some BV experts delegate this important responsibility to either their staff, or a different BV analyst in their firm and ...

Part I: Conceptual Principles This is a four-part article series. The articles and discussion focus on the conceptual principles and the practical applications of the cost approach in the development of intellectual property valuations. Part I of this discussion focuses on the conceptual principles that support the application of the cost approach to intellectual property valuation. Part II describes the ge ...

Not all referral opportunities pan out. And there are two reasons why. This article explains those two main reasons. I want that new client. I need that new client. I am perfect for that new client. I deserve that new client. Dang! Why didn’t I get that new client?! Unfortunately, not all referral opportunities pan out. And there are two reasons why. Reason #1: Your Referral Source Didn’t Refer You Ouch! Hi ...

Center for Medicare & Medicaid Publishes Proposed and Final Rules on Medical Reimbursement Rates The U.S. government is the largest payor of medical costs, through Medicare and Medicaid, and consequently has a strong influence on physician reimbursement. The prevalence of these public payors in the healthcare marketplace often results in their acting as a price setter and being used as a benchmark for p ...

Natural Disasters and Claims Submission Best Practices This article’s purpose is to alert practitioners to potential issues that may arise during the claims process as it relates to damages suffered from a catastrophic event, other than COVID-19, during the ‘pandemic economy. Readers need to be aware of and distinguish the two events when filing a claim. Because the influence of the ‘pandemic economy’ on bu ...

From Beginning to End The authors of this article discuss what happens when credit card data is stolen and personal identifiable information is stolen. They recount how this information is used and sold on the dark web and the issues that arise when damages are claimed. The case of Target Corporation Data Security Breach Litigation, Attias et al. v. Carefirst, Inc., and Wawa provides context and insight on ...

Reasons for Failed Negotiations There are many reasons for failed negotiations. Emotion is often a reason that people cannot resolve their differences. When individuals are highly emotional, they lose the ability to think clearly and to fully evaluate the risks in continuing the controversy. Pride, ego, vengeance, and many other factors combine and contribute to creating negotiation roadblocks. Many of thes ...

But Not the Cost of Debt? Determining the cost of equity can be quite interesting whereas determining the cost of debt is often boring. We may add items to the cost of equity—such as a size or company specific risk premium—that arguably are not included in the CAPM methodology used to determine the cost equity. But then we do not add these items to the cost of debt. Do only equity investors care about size ...

Key Actions to Undertake to Increase the Price of a Company This article provides a brief overview covering what the author—a middle market investment banker—believes is the most worthwhile and impactful actions that anyone contemplating the sale of their business can take right now to set themselves up for success in a future transaction process. The author recommends that prospective sellers and their adv ...

Six Months In Special Purpose Acquisition Companies (SPAC) have been a prime focus of the SEC over the last six months. On April 12, 2021, the SEC issued “Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies” to highlight potential accounting implications and provide guidance on making the determination between classifying the warrants issue ...

Get Acquired for Millions—A Roadmap for Technology Services Providers to Maximize Company Value What should a technology service professional know to sell his or her company for millions. In this book review, Michael Pakter discusses Linda Rose’s Get Acquired for Millions—A Roadmap for Technology Services Providers to Maximize Company Value. Entrepreneurs aspiring to end up selling their businesses for mill ...

Questions from the NACVA Conference Regarding Discounting Lost Earnings for Self-Employed Individuals In June 2021, the author of this article made a virtual presentation at the NACVA and the CTI’s Business Valuation & Financial Litigation Hybrid & Virtual Super Conference. The presentation was “Estimating Economic Loss of the Self-Employed: Lost Profits or Lost Earning Capacity”. One of the attende ...

Last month, Rod Burkert wrote about the four worst ways to generate new clients. Well, then there has to be the four best ways—right?! Read on! Here, Rod Burkert describes what you must do more of to get new clients. Last month, I wrote about the four worst ways to generate new clients. Well, then there has to be the four best ways—right?! Read on! For most businesses, getting referrals is usually a top mar ...

This article discusses the recent settlement of National Spine and Pain Center signed with the U.S. Department of Justice and provides the basis to discuss the importance of obtaining an opinion regarding the FMV physician compensation. On August 6, 2021, the U.S. Department of Justice announced that it had reached a settlement with National Spine and Pain Center, LLC (NSPC), a Maryland physician management ...

Grantor Trust—Living Trusts to Irrevocable Trusts and their Taxation This article provides the general rules which are applicable for many and sometimes almost every situation, but with taxes and legal issues there are very few absolutes and almost everything has exceptions. That is why competent and experienced advisors must be used in every situation. This article provides an overview of the different typ ...

Post Closing Task List This article provides readers with a checklist used at a business transaction that just closed. The list was adapted from e-mails sent by the author to clients immediately after the closing. The list includes what they can and should do following the closing and is a way to further involve oneself in post-closing activities. The list collects all the different things (personal, invest ...

What to Watch For and What to Watch Out For Expert testimony is not for the faint of heart. The best expert is that person who gathers trial experience well before the first testimony experience and in that time has not only developed the technical skills—meaning mastered and acknowledged the methodologies—but has also attended depositions, jury trials, and bench trials. The practitioner will also understan ...

Fraud Issues in the Hospitality Industry Post-COVID-19 Pandemic The hospitality industry is already experiencing an increase in fraud, and everyone associated with the business—including operators, owners, managers, employees, and even guests—is at risk of being affected. In this article, the author identifies areas of fraud and provides recommendations to mitigate risk.  As a self-proclaimed foodie, I am e ...

The Future of Main Street Business Succession In 2001, veteran investment banker, Peter Christman, first identified the need for a holistic approach to preparing owners of midmarket businesses for sale and/or exit. He set about writing a book to address this. At the time, the first Baby Boomer was 56 years of age. Those Baby Boomers are now not so young. In this article, the author shares his impression of ...

Pearls Clutched and Loaded Have you ever read an opposing expert’s rebuttal of your expert report that left you clutching your pearls the rest of the day? With over 2,000 cases under my belt, I have had some true works of fiction written about me and still can be found clutching my proverbial pearls from time to time. This ninth article of the Unimpeachable Neutrality series discusses how to quell the no go ...