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The Lawyer's Business Valuation Handbook: Understanding Financial Statements, Appraisal Reports, and Expert Testimony |
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Product Availability: This product is currently out of stock, but can be placed on backorder.
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Highly technical and often difficult to understand, the subject of business valuation is a critical one for lawyers in many areas, such as family, corporate and tax law, and estate and financial planning. Shannon Pratt's The Lawyer's Business Valuation Handbook is a practical guide that will help you assess the qualifications of a business appraiser as well as the reliability of the information presented, and will enable you to work with valuation issues more effectively.
A widely recognized expert in business valuation, Dr. Pratt uses clear writing and numerous examples to demystify the basic terminology of appraisers and the sophisticated financial analysis incorporated in their appraisals. This conveniently organized and thoroughly indexed reference that will help both lawyers and judges evaluate the evidence admitted, provide guidance for deciding what elements of evidence to accept or reject and for evaluating the relative strengths and weaknesses of the positions in a case.
This handbook covers all aspects of the process of determining the value of a business, including:- Definitions of value: How different courts have interpreted the appropriate definition of value for different valuation purposes and in different jurisdictions
- Professional standards and professional credentials
- Commonly used terminology: Includes definitions and examples
- Recognized and accepted valuation methods and common errors
- Commonly used bodies of empirical evidence: Used to support the appraiser's judgment in quantifying variables, such as discount and capitalization rates; market multiples; and minority, marketability, and other discounts and premiums
- Questions to ask: Illustrative questions, included at the end of most chapters, that can be used to get a better understanding of the subject matter
- Reviewing a report: How to understand and analyze the content of a written report. Contains a professionally approved checklist to structure a quick initial review of the valuation report.
The Lawyer's Business Valuation Handbook is built around the legal and factual settings a lawyer is apt to encounter. The chapters on methodology are clearly written and contain numerous examples so they may be understood even without a financial background.
The text also contains extensive case citations to courts' positions on all types of business-valuation issues and covers related subjects such as tax, corporate-shareholder matters, marital dissolution, ESOP, and others. The book concludes by dealing with valuations in specific legal contexts, such as marital dissolution, dissent, oppression, and tax, among others. Appendices include:- A quick review checklist for examining the basic requirements and quality of a written report
- International glossary of business valuation terms
- Table of cases organized by subject matter and broken down by jurisdiction
- General bibliography
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"You have to have this book because the other side will be citing its contents to the judge! This book is everything the divorce lawyer needs to know about valuation to avoid malpractice. It will quickly become a standard text for all divorce practitioners. Everyone in our office will have their own copy."
Gerald L. Nissenbaum
Past President of the American Academy of Matrimonial Lawyers and International Academy of Matrimonial Lawyers
Boston, MA
"Shannon Pratt provides a comprehensive analysis of valuation law, principles, and practice, enabling attorneys and judges to understand and apply valuation theory and precedent. Authored by the most frequently cited authority and expert witness on valuation issues, this book provides a pragmatic and state-of-the-art discussion on virtually every issue arising in valuation controversies."
Keith Schiller
Schofield & Schiller
Walnut Creek, CA
"I have found Shannon Pratt's book to be a tremendous treatise on the subject that would be helpful to judges, lawyers and accountants."
William A. Christian
Chief District Court Judge, 11th District Court District
Sanford, NC
"As with Dr. Pratt's other publications, The Lawyer's Business Valuation Handbook is a good investment in time and money. In particular, it presents complex business valuation topics in more understandable terms. The relatively short chapters on specific technical topics give readers the choice of focusing on pertinent information rather than feeling obligated to read the whole book. I was also pleased to find chapters devoted to increasingly important issues like business appraisal credentials and standards, admissibility of expert evidence, and alternative dispute resolution. Without a doubt, this book will allow the attorney to better represent his/her client on business valuation issues."
Chris D. Treharne, ASA, CBA, President, Gibraltar Business Appraisals, Inc.
Longmont, CO
"Often, the problem with attorneys and judges using conventional texts on business appraisal is the lack of a common language. This book breaches that gap with an admirable translation of business appraisal approaches and methods which offers a comprehensive and comprehensible treatment of the nuances of business appraisal. It's an indispensible resource for judging whether the expert has approached the assignment with real professionalism, or whether a surface treatment of the appraisal has resulted in an opinion unworthy of credit by the court or consideration by counsel. Don't leave for court without it."
Michele G. Miles
Becker & Poliakoff, Executive Director, Institute of Business Appraisers
Fort Lauderdale, FL
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