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Valuing Lost Profits of a License Agreement

Avoiding Speculation The author of this article, Dr. Kreuter, recently testified in a jury trial in New York State Supreme Court. The case was heard in April 2023. In the case, Kela Tennis, Inc. (“Kela”) sued the City of Mt. Vernon (“Mt. Vernon” or “the City”). On behalf of Kela, Dr. Kreuter calculated the economic damages in connection with the City’s breach of contract with Kela. The City had wrongfully d ...

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The Economic Waste Doctrine

Experts Beware… Financial experts that handle construction defects claims should be familiar with the doctrine of economic waste, the potential limitations on a damages claim, and recognize the potential of this doctrine arising in a damages engagement. The author shares how this doctrine may arise and what to look for before accepting a damages engagement. “Economic waste is the label that courts have adop ...

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Foreseeability Standard in Lost Profits Litigation

The Objective and Subjective Tests Used to Determine Foreseeability To recover lost profits in a commercial damages case, three standards must be met. They are proximate cause, foreseeability, and reasonable certainty. Of these three, foreseeability is the lost profits standard in which a financial expert will have the least involvement. But this does not mean the expert’s work would not benefit the trier-o ...

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Selecting the Right Forensic Accountant

Can Effect the Outcome of a Case One of the most critical decisions practicing attorneys have to face is the selection of a forensic accountant. The specialized training and expertise of forensic accountants and the role they play, either as consultants or as expert witnesses, can make the difference in the final outcome of a case. However, it is critical that the right person with the right expertise, trai ...

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Lost Profits: The Reasonable Certainty Standards and the Modern New Business Rule

While the vast majority of jurisdictions have moved away from the new business rule and adopted the modern new business rule, by which new/unestablished businesses can recover damages, such adoption does not diminish the requirements under the reasonable certainty standard. Given the lack of historical financial performance data and under the lens of the reasonable certainty standard, estimates of lost prof ...

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An Overview of Methods for Estimating Lost Revenues in Economic Damages

Forecasting “But-For” Revenue for Lost Profits In this article, the author provides a brief discussion of each major approach considered in an economic damages engagement and then discusses circumstances in which multivariate analysis could provide the greatest benefit in formulating a comprehensive damage model. ...

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Federal Case Law: False Claims on Federal Loan Guarantees, Inadequate Discovery, and More

Case Summaries from the U.S. Court of Federal Claims and the Appeals Courts of the Sixth and Seventh Circuits A corporation lies in applying for federal loan guarantees—and faces treble damages in United States v. Anchor Mortgage.  In Naylor v. Invacare, plaintiff’s request for information plays a key role.  Find out more. ...

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Has Governmental Anti-Kickback Statute Enforcement Kicked Back Royalty Rates?

Royalty Rates in the Life Sciences are Under Increased Scrutiny. But Has That Caused Rates to Decline? Several medical manufacturers were accused of violating federal kickback statutes. Federal enforcement prompted many companies in the industry to review and revise the terms under which they collaborate with and pay healthcare professionals for contributions of time, know-how, and intellectual property. Ed ...

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