Litigation  Support in Business Valuation

By now, you have completed some of the core Business Valuation courses, and developed your fundamental skills and knowledge in valuation theory and methodology. The purpose of this course is to provide you with a solid foundation in litigation matters as they relate to the valuation of businesses and/or economic damages. From the engagement process to the valuation of losses in specific industries, this course will provide you with a comprehensive overview of issues in the field.

At the end of this course, you will have a sound understanding of the ways that law and business valuation connect and interact, and be able to apply litigation knowledge to your engagements as a business valuator.

The required readings for this course are included within the notes, but references to case law and other relevant documents provide opportunities for further learning.

In Module 1, you will be introduced to the engagement process the CBV must follow, from the decision to accept an engagement to testifying at trial. You will gain an extensive understanding of the internal procedures to be completed, including the engagement letter, the gathering and analysis of information, and the quantification of damages. You will also be introduced to the fundamentals of report writing.

By the end of Module 1, you will be able to:

  • Discuss the internal procedures to be completed before accepting an engagement.
  • Explain when an assignment based on contingent fees can or cannot be accepted.
  • Describe the general purpose and typical contents of an engagement letter.
  • Demonstrate an in-depth understanding of the type and nature of reports typically used by CBVs in a litigation context.

Torts and personal injury damages are covered in Module 2. When an individual sustains a physical injury due to the action or inaction of another person (often related to a motor vehicle), the individual may seek compensation. Often, CBVs are asked to assist with the quantification of these damages. In this module, you will learn about issues routinely encountered with these types of quantifications. You will also gain an understanding of what methods CBVs use to determine economic losses due to personal injury and wrongful death.

By the end of Module 2, you will be able to:

  • Discuss the common issues encountered and quantification methods that are typically used in determining economic losses due to personal injury or wrongful death, as well as legislated matters such as Income Replacement Benefits.
  • Perform professional and technically correct calculations of various types of economic losses associated with personal injury or wrongful death.
  • Discuss the concept of contributory fault/liability of the plaintiff.

Module 3 focuses on matrimonial disputes, an area in which CBVs are often required to assist  in resolving financial issues. Topics including family property regimes and legislation, property assignments, methods of asset division, joint valuation assignments, and estimation of income for support purposes will be covered. A real life case study is also included to help you understand how assets are valued for a matrimonial dispute.

By the end of Module 3, you will be able to:

  • Explain the potential roles which a CBV may fill in the context of a matrimonial dispute.
  • Discuss various issues specific to matrimonial property assignments.
  • Perform a professional and technically correct calculation of business value in a family law context, and how it may differ from a valuation calculation for other purposes.
  • Describe the characteristics, challenges, and benefits inherent in a joint valuation assignment, including a CBV’s duties in such assignments.
  • Perform a professional and technically correct calculation of an individual’s income available for support.

Module 4 focuses on intellectual property damages with a focus on patents. By the end of this module, you will understand the principles and approaches in quantifying damages in respect to patents and other intellectual property.

By the end of Module 4 you will be able to:

  • Describe various types of intellectual property (IP)
  • Describe how losses involving IP may arise.
  • Explain the potential roles which a CBV may fill in the context of IP damages.
  • Discuss the valuation approaches that are commonly used to quantify losses in IP disputes, as well as the factors the CBV needs to consider in selecting and applying the approach to calculating such losses.
  • Perform professional and technical correct calculations of IP losses under various methods.

Business interruption, insurance claims and expropriation are covered in Module 5. By the end of the module, you will have a solid grasp of quantification approaches and concepts used by CBVs in situations where a business’ operations are interrupted due to various circumstances.

By the end of Module 5, you will be able to:

  • Describe how losses related to business interruption and expropriation disputes may arise (i.e., the types of claims which may arise).
  • Explain the potential roles which a CBV may fill in the context of business interruption and expropriation disputes.
  • Describe the sections of insurance policies which are relevant to a CBV’s work related to business interruption and expropriation disputes.
  • Discuss the valuation approaches that are commonly used to quantify losses in business interruption and expropriation disputes, as well as the factors the CBV needs to consider in selecting and applying the approach to calculating such losses.
  • Perform professional and technical correct calculations of losses related to business interruption and expropriation claims.

Module 6 focuses on construction losses. It provides you with an overview of the most common types of contracts utilized in the construction industry, the types of losses that may arise if those contracts are breached, the documents required for supporting a claim for damages, and the role of the CBV in construction litigation.

By the end of Module 6, you will be able to:

  • Discuss the most common types of contracts used in the construction industry, the types of losses that may arise if those contracts are breached (i.e., the types of claims which may arise), and the documents required for supporting a claim for damages.
  • Explain the potential roles which a CBV may fill in the context of construction litigation disputes.
  • Perform professional and technical correct calculations of losses related to construction litigation claims.

The case studies following the last module are integral to your success in this course. Each case study is designed to reinforce your litigation knowledge and to allow you to apply that knowledge to industry specific cases. Solutions to the case studies are also provided.

 

 

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