Professor Jeff Sedlik has decades of experience at the highest level of professional photography including advertising, corporate, editorial and stock. He is a respected and acknowledged authority on photography having served as Past National President of professional photography's leading trade organization, "Advertising Photographers of America". Professor Sedlik is also an experienced Expert Witness.
BTI Appraisal is a broad-based appraisal company which provides a consistently high level of Real Estate Appraisals, Business Valuations, and Machinery and Equipment Appraisals for Business, Professional, Public and Private Sectors. When you choose BTI Appraisal, you benefit from a strong tradition of experience and accuracy.
A corporate philosophy stressing efficiency and attentive service has made BTI a leader among independent appraisers. They are proud of our reputation for stability, responsiveness, and accomplishment in and out of the courtroom. At BTI, their seasoned staff of success-oriented professionals treats each assignment with precise attention to detail, providing needed research and responsive service on a wide range of appraisal needs.
Real Estate:Valuation, Research, and Technical Capabilities from homes to high rise office buildings of all sizes and in most locations. BTI can determine value for either “as is” or “as proposed” construction as well as Market Analysis and Feasibility Studies, Construction Defects, Lost Profits Analysis, Property Tax Reductions, Lack of Disclosure or Misrepresentation
Personal Property: Residential Contents, Automobiles, Works of Art or Collectibles, Private Planes, Yachts, Inventory for Insurance Coverage, Loans, Sales, Donations, and Litigation Purposes
Business Valuation: BTI is often called upon to appraise business entities for a variety of purposes Bankruptcy, Eminent Domain, Estate Planning, Dispute Resolution, Loan Support, Marital or Corporate Dissolutions, Mergers, Purchase or Sale
Machinery and Equipment: BTI's diverse experience in appraising all types of machinery and equipment extends to leasehold improvements, furniture, fixtures and other tangible assets, and a wide range of specialized machinery and equipment including Lasers, Food Processing & Packaging Assembly lines, Cranes, Medical Equipment, Agricultural Equipment, Photography Equipment, Telecommunications Equipment
Financial Analysis: Sales, profits and expenses often need to be projected, or analyzed, based on external events that trigger losses or gains. BTI regularly performs this type of work for a wide variety of business types.They also analyze contract disputes that financially impact the parties.Commercial creditors even use BTI’s services to analyze and value accounts receivable and related assets that secure their loans to operating businesses.
BTI’s Founder and Chairman, Ben F. Tunnell III, has headed the firm since 1974. Previously, he spent eight years with First Interstate Bank of California as vice president at their corporate headquarters in Los Angeles. He served on the board of arbitrators for both the American Arbitration Association and the Better Business Bureau. He has also been a Registered Investment Advisor and Broker/Dealer with the Securities and Exchange Commission and a licensed, California Real Estate Broker. Mr. Tunnell is an ASA, the senior designation of the American Society of Appraisers, and a California Certified General Real Estate Appraiser #AG-6964.
Convergent Capital Appraisers (CCA), is a full-service Business Valuation firm located in Houston, Texas, CCA specializes in providing its clients appraisals of closely-held operating businesses, family investment entities, and a variety of other financial assets. With clients and businesses located throughout the State of Texas, CCA also works frequently with clients and their advisors from across the United States to international locations, including Mexico, Canada, Brazil, Peru, and Poland.
All valuation engagements undertaken by Convergent Capital Appraisers consider the various elements of appraisal theory developed by The American Society of Appraisers (ASA) and are performed under the ASA's Principles of Appraisal Practice and Code of Ethics, as well as the Statements on Standards for Valuation Services No. 1 issued by the American Institute of Certified Public Accountants. In the preparation of their valuation reports, CCA also conforms to the Uniform Standards of Professional Appraisal Practice "USPAP" as developed by The Appraisal Foundation.
Federal Estate, Gift, and Income Tax Appraisals
Business Transaction Consulting
Divorce and Ownership Disputes
Financial Asset Valuation and Consulting
Principal, Scott S. Miller, MBA, ASA, ABV, specializes in Business Valuation and Transaction Consulting for small to middle market companies. He has over 35 years of professional business experience that ranges from senior operations management with publicly-traded companies to handling all aspects of operations in small privately-held manufacturing and service businesses.
Along with an MBA from the University of Houston, Mr. Miller achieved the Accredited Senior Appraiser (ASA) designation from the American Society of Appraisers, the Accredited in Business Valuation (ABV) certification from the American Institute of Certified Public Accountants and has over 15 years of business / financial asset valuation and consulting experience.
DMA Economics, LLC is a world class provider of Valuation Analyses in high-stakes litigation. Their clients include billion-dollar investment funds under SEC investigation as well multi-national firms involved in intellectual property disputes, consumers in product mislabeling cases, and small to mid-sized businesses involved in complex commercial litigation.
DMA Economics has performed valuations for cases involving Theft of Trade Secrets, Securities Fraud, Product Mislabeling and Consumer Fraud, and Lost Profits and Enterprise Value to name a few. DMA Economics also has extensive experience in the valuation of business interests for non-litigation matters. These include but are not limited to valuations of non-public business interests, for acquisition and regulatory purposes.
Donald M. May PhD, CPA, Managing Partner at DMA Economics, LLC, possesses over 30 years of Valuation and Economic Damages experience. He implements a broad range of damage analyses and valuations for clients including billion dollar investment funds under SEC investigation as well as smaller businesses concerned with the impact of potential litigation and strategies to reduce potential liability.
Background Experience - Prior to founding DMA Economics LLC, Dr. May was Managing Director at Berkley Research Group and the Principal in charge of valuation and litigation support services for a regional accounting firm, a Managing Director for PricewaterhouseCoopers, and a professor at the Massachusetts Institute of Technology - Sloan School of Management. He has performed over 200 valuations of closely held businesses across numerous industries for financial reporting and estate planning. Dr. May has been published in several distinguished academic and practitioner journals such as The Journal of Finance, The Quarterly Review of Economics and Finance, Hedge Fund Law Review, and is currently an editorial board member of The Journal of Business Valuation and Economic Loss Analysis.
Mascara falsely labeled as being natural. Label claims “Natural” fibers on mascara are alleged and proven to be false. Class action filed and DMA Economics is tasked with computing aggregate damages to the class who purchased the mascara at a premium because they believed it was natural.
The fund managers were alleged to have violated their fiduciary duty to maintain proper diversification in the fund by allowing one particular security to make up more than 25% of fund value and up to over 40% of fund value by mid-2015.
This article finds evidence consistent with the hypothesis that managers consider personal risk when making decisions that affect firm risk. I find that Chief Executive Officers (CEOs) with more personal wealth vested in firm equity tend to diversify. CEOs who are specialists at the existing technology tend to buy similar technologies. When specialists have many years vested, they tend to diversify, however. Poor performance in the existing lines of business is associated with movements into new lines of business.
Econalysis® Consulting provides Economic Loss Analysis services to adjustors and insurers in claims resulting from accident, wind, fire, and flood, and from negligence, malpractice, or other actions or omissions.
Econalysis® Consulting also provides regulatory economics consulting services in such public policy areas as environmental protection, health and safety, antitrust, energy, and other regulated services and markets.
Dennis M. Giuffré, founder Econalysis® Consulting, offers specialized economics consulting and expert services, and has engaged such services over a broad and diverse array of industries and markets, since 1978. Projects have included the analysis of economic damages in business, and in personal, scenarios in which a trial is not contemplated.
Mr. Giuffré's experience includes analysis of losses of property, business profitability, and personal losses due to natural disasters, identification and analysis of means to offset pollutant emissions in a designated non-attainment area, profitability analysis of a new grassroots electric power plant, the impact of relaxation of pollutant standards, market research of Oil Country Tubular Goods, evaluation of proposed business ventures in various markets, and other engagements.
Eureka Software Solutions, Inc. is a Software Development and Consulting business with over 35 years of hands-on experience in the Computer, Software, and Technology industries. Eureka and its team of professionals provide an unparalleled understanding of nearly every facet and factor involved in a complex software or computer related litigation scenario. Eureka's clients have included Global 1000 and Fortune 500 companies in industries such as Enterprise, Finance, Military and Defense, Transportation, Oil and Gas, Security, Healthcare, and Automotive. Eureka Services and Practical Implementation of Expertise:
Review and comparison of software source code and functionality in relation to contractual commitments and requirements and/or protected intellectual property including, trade secrets, copyrights and patents
Computer / Software Forensics – able to reverse engineer and reconstruct hardware and software environments from backups, remnants and fragments of deprecated software. Eureka IT and Software development team is skilled at re-creating historical hardware and software environments
Investigation and assessment of software project bidding, planning and performance with particular attention to adequacy of discovery, specifications, cost estimates, schedules, and deliverables
Functional and performance testing of software against applicable specifications, warranties or industry standards using proprietary and commercial testing tools and techniques
Evaluation and use of both traditional and modern software development techniques and strategies, including creative payment structures related to software application/effort valuation and intellectual property licensing and ownership
Reviewing and exercising software applications and IT networks to expose and correct security issues and weaknesses
Founder and CEO, Monty G. Myers, PE, is an active Software Industry Executive with 40+ years of experience. Mr. Myers is involved in all aspects of the daily management and operation of Eureka, including business development, contracts, customer relations, project scope, execution and oversight, strategy and management, hiring, and finance. Mr. Myers has negotiated and performed hundreds of real-world software and technology contracts and statements of work involving complex software project and licensing terms and conditions including material intellectual property aspects. He is actively engaged in handling and protecting the confidential, proprietary, and trade secret information and technology of Eureka and its clients. View Monty Myers' Expert Witness Profile.
HP Accounting Services, Inc. is a leading provider of interim and outsourced Financial Management for tech and other companies. A CPA and business valuation firm, they support their clients’ compliance with the IRC 409A and SFAS 123(R) rules, intangible asset valuation, as well as issues involving damage calculations, expert witness services in litigation.
Accounting - Bookkeeping (Monthly/Quarterly/Annual), Accounting system setup for new businesses, Personal financial statements, Business Plan Development & Loan Brokerage, Audit Preparation & Liaison, Budgeting
Business Valuation - Purchase Price Allocations — FAS 141R
Mergers & Acquisitions
Business Fraud Prevention
Robert Bates, JD, CPA, CFE, CVA, CFO has over 30 years of Financial Management and Accounting experience as a Controller and CFO in various industries. He has been in several industries, including telecom, media, retail and financial services in addition to having consulting experience at startups in the software, technology, and life sciences fields. Mr. Bates specializes in International Accounting, Software Issues, and Obtaining Financing. AS CFO of public companies, he has completed due diligence accounting/reporting for 12 acquisitions, including performing Business Valuations and dealing with FAS 142 issues. Mr. Bates has handled accounting for complex debt instruments including warrants, beneficial conversion feature, and other derivative issues. He has also been responsible for SEC reporting: 10Q’s and 10K’s.
Economic downturns and recessions are notorious for encouraging fraud. As new and prospective fraud examiners, it's imperative that you become aware of the various fraud risks that can occur and the red flags that indicate a fraud in progress.
Know Thy Market (KTM) provides the very highest quality of valuation reports, business plans, market assessments, feasibility studies, and other strategic documents. That is why KTM has become known for providing data-driven, professionally-written, visually appealing, and powerful strategic documents to savvy companies and entrepreneurs throughout the world.
Joe Carlen, MBA, MISM, CVA, Co-Founder and Lead Consultant, is a Certified Valuation Analyst with over 20 years of Business Analysis experience. He offers a strong combination of intellectual property, valuation, business and technology knowledge coupled with strong analytical and writing skills.
A Carnegie Mellon graduate, Carlen has a strong technical background that makes him more comfortable than most valuators with highly technical and IP-weighted businesses. With many years of experience working with a patent law firm, Carlen is one of the few certified valuators known for excellent valuations of patents and other forms of intellectual property. Carlen is also one of relatively few valuators experienced in international/multi-jurisdictional business valuations.
Over the years, Mr. Carlen has completed over 200 market assessments and valuation reports for patents, trademarks and copyrights of almost every industry. He has also assisted in the preparation of some patent applications. There are relatively few valuation and damages experts with a comparable level of experience with intellectual property.
Business Valuation and Patent Valuation - Carlen has conducted valuations of businesses of a wide range of sizes and industries, from food retail to automotive accessories, swimming pool products to GPS systems, etc.
Strategic Business Plans / Financial Analysis Projects - Having worked on business plan projects for companies of all industries, including non-profits, Mr. Carlen knows exactly what investors and other strategic partners need to see in such documents, including: Market Assessment, Real Estate Feasibility Studies, Grant Applications, White Paper / Manuals, Brochures
Joe Carlen Speaks at the Museum of American Finance
Mr. Carlen has been a Certified Valuation Analyst (CVA), in good standing with the National Association of Certified Valuators and Analysts, since 2014. The published author of multiple business books, he has also contributed finance-related articles to CNBC, ValueWalk, Bloomberg and other financial media outlets.
This book charts how the pursuit of profit by private individuals has been a prime mover in revolutionizing civilization. Consulting rich archival sources, including some that have never before been translated, Carlen maps the course of human history through nine episodes when entrepreneurship reshaped our world. The author also discusses the new entrepreneurs who, through the nascent space tourism industry, are leading humanity to a multiplanetary future. Altogether, Carlen brings much-needed detail to the role of entrepreneurship in shaping history.
Warren Buffett-widely considered the most successful investor of all time-has repeatedly acknowledged Benjamin Graham, the “father of value investing”, as the primary influence on his investment approach. Indeed, there is a direct line between Buffett’s record-shattering investing performance and Graham's investing system that revolves around ascertaining the true business value (aka “intrinsic value”) of publicly-traded companies. The author distills the best from Graham's extensive published works and draws from personal interviews he conducted with Warren Buffett and many other top investors, as well as Graham's surviving children and friends. Carlen's book integrates Graham's eventful life with his proven techniques for generating wealth.
Nevium specializes in managing and increasing the value of intellectual property portfolios. You have your business plan; you have your marketing plan…Where is your IP plan? Quite surprising, most businesses don’t have an IP plan; nonetheless even know the total contents of their IP portfolio. At Nevium, we manage and monetize intellectual property and intangible assets. We believe these assets need to be identified, organized and managed in order to maximize value.
Nevium specializes in valuing, managing, monetizing and providing expert testimony related to intellectual property. Nevium values IP for business transactions, tax/estate, joint venture negotiations, transfer pricing and bankruptcy.
Nevium builds and manages intellectual asset management strategies for clients who want to monetize their IP. Mr. Bania and Mr. Buss are frequent lecturers on IP valuation and licensing issues and publish articles for numerous industry publications. Areas of expertise include music, apparel, publishing, film, food, automotive, sporting goods, furnishings, advertising, media, photography, retail and not for profit.
Consulting Services Include:
IP Management - Nevium Identifies, organizes and values IP and IA
IP Valuation - Nevium values brands, trademarks, copyrights, patents social media and Internet assets for M&A, estate, business transactions, tax and transfer pricing
IP Monetization - Nevium assists with setting royalty rates, building licensing agreements and buying and selling IP
Doug Bania, CLP, Founding Principal, has over a decade of expertise in managing, valuing and monetizing intellectual property. Prior to founding Nevium, Mr. Bania managed 100s of projects related to brands, intellectual property and the related intangible assets. He has assisted clients in intellectual property matters related to acquisitions, litigation, bankruptcy, tax, estate, family and marital disputes, and licensing. Mr. Bania delivers presentations and seminars on IP valuation, management and damages issues for various business and legal entities across the United States.
Brian Buss, CFA, Founding Principal, is a Chartered Financial Analyst with over 20 years of experience in valuations, financial analysis, and corporate finance both in the United States and overseas. Mr. Buss provides strategic advice for intellectual property portfolios and transactions, guidance in determining economic damages, and profit apportionment in civil litigation, and performs valuations of trademarks, patents, copyrights, brand assets, trade secrets, technology assets, celebrity endorsements and marketing activities, and other intangible assets.
Prior to founding Nevium, Brian Buss managed over 100 cases as an economic and valuation expert. He has developed financial models and forecasts for acquisitions, business valuations, licensing transactions, and new business ventures. His entrepreneurial experience includes serving as co-founder and financial officer for a technology start-up. Prior to launching Nevium, he worked at San Diego-based consulting firms, Westpac Institutional Bank, and Deloitte & Touche’s Financial Advisory Services group in New Zealand and San Francisco. Mr. Buss has been engaged to speak by various institutions, both nationally and internationally, on topics concerning finance, valuation, and damages.
San Diego Office 415 Laurel Street, Suite 341 San Diego, CA 92101 Telephone: 858-255-4361 Email: email@example.com
Los Angeles Office 9107 Wilshire Blvd., Suite 450 Beverly Hills, CA 90210 Telephone: 310-975-3145 Email: firstname.lastname@example.org
Based on our knowledge of and ability to analyze and value businesses, valuation professionals are uniquely positioned to provide valuable information to business owners and managers regarding the financial value of their brand assets. In other words, how a company's brand assets are contributing to the company's overall financial performance. This "Special Issue" of The Value Examiner is intended to kick-start the discussion on brand valuation by identifying the opportunities and challenges in completing brand valuation assignments for our clients.
Use of the Internet and social media has become an increasingly essential element of conducting business in the United States and globally, which in turn raises new issues for calculating damages and performing valuations. With almost every business now using the Internet and social media to conduct business, cases of Internet IP infringement, IP misuse, and defamation have increased and evolved. Before the rise of these new media, cases of infringement and defamation typically occurred in print or on television and were visually obvious.
Most of the existing literature on copyright infringement is concerned with the valuation of intellectual property rather than the apportionment of the value that is directly attributable to the intellectual property asset at issue. Further, few of the currently proposed IP valuation methods and little of the literature addressing the determination of damages appears directly applicable to the case of copyright in the context of artistic productions. Within the creative arts, recorded music offers a particularly complex and interesting case within which to explore this issue, as different portions of the relevant copyright to the recorded song may be held by different persons.
Premium Software Consulting Services provided by industry leading experts. Today's software users expect and demand software that is more intelligent, interactive, usable, and reliable than ever before, over a backdrop of continuously evolving technology spanning a range of platforms. To remain competitive, modern applications need to solve complex problems that have never been solved before. This requires more than just programmers. You need experts. All of our consultants have a Ph.D. in computer science or related discipline and at least ten years of industry experience. All have contributed to the software state-of-the-art, published original work, presented at conferences around the world, and have years of hands-on, practical industry experience. Areas include Software Design, Reliability, OOP, Pedagogy, Algorithms, Vision, Embedded Systems, Knowledge Acquisition, Programming Theory, Formal Methods, Computational Linguistics, Artificial Intelligence, and others. They know and work with today's modern programming languages and technologies. Expertise spans all aspects of the software life-cycle. Offering advanced software development, project management, code review & quality assurance, management consulting, expert witness services, failed project turnaround, usability analysis, and more. Available on or off site anywhere in the United States and Europe. Please see our web site for more information and additional service offerings.
The discovery phase of IP litigation often calls for a technical review of a software product. A code review is an activity conducted by an expert witness that involves reviewing the source code of a product to discover pertinent facts relevant to the case.
The situation: you have invested an enormous amount of money and company resources in developing software solutions to address client needs. Regardless of the size of your company, every dollar counts and you want to know that your investment today will ultimately produce a fast, modern, scalable, and correct software solution that will still be usable tomorrow with tomorrow's technology.
Licensing and infringement litigation are two primary potential income sources from a patent. With licensing, the inventor permits the licensee to make, use, sell, or offer to sell a patented invention for compensation.
Prolifogy's failed project turnaround service has generated increased interest recently. Specifically, it was the most requested of all service offerings last month—a fact that surprised even company officials.
Stanley P. Stephenson, Ph.D. Economics, has provided Economic Litigation services in more than 400 cases. His experience includes Business Valuations, Economic and Quantitative Analysis and Market Assessments.
Dr. Stephenson's Expert Witness services are provided to defense counsel and plaintiff attorneys. He has been involved in cases in various industries including high-tech manufacturing, software development, agricultural product processing, auto accessories, hotel, real estate, eating & drinking establishments, pharmaceutical, chemical, hospital, insurance, transportation, professional sports, retail, petroleum and cosmetics.
This paper presents a method for measuring economic damages in wrongful termination cases. Such cases present the damages expert with a problem since the available studies of earnings recovery after a job loss are based on a limited time period after a job loss and many workers never catch-up to the previous earnings level. A two-step approach is offered. First, the expert uses appropriate available empirical evidence to develop a typical earnings catch-up period. Second, the expert gathers information about case factors affecting the duration of the period to earnings catch-up. Using these factors, the expert modifies the base time period to develop a reasonable range of years for earnings catch-up. The ultimate choice of lost earnings is left for the court to decide, given the range presented by the expert. Cases directly or indirectly supporting this method are presented.
Imagine you are lead counsel on an airline crash case in which more than 200 lives were lost, each involving a wrongful death case. A plaintiff attorney has hired an economist whose report on damages for one person, a Korean leather goods importer, exceeded $200 million. What should you do? Plaintiff’s expert is a Ph.D. from a top university who teaches economics and has many publications.
This paper focuses on business interruption litigation and how to compute lost profits as a remedy. The main contribution of the paper is development of a general model of economic damages which assesses lost profits by measuring the incremental changes in revenue, variable costs, and fixed costs.
Defects introduced in construction can lead to classic legal disputes between owners and contractors, especially when considerable sums of money are involved. What can a commercial mortgage broker learn from these disputes? What risks and potential rewards might arise?
Survival risk of new businesses is a challenging issue to incorporate into lost profits analyses used in litigation, an issue some financial experts and courts ignore rather than consider explicitly. This paper considers several ways to make qualitative and quantitative adjustments for the survival rates of new businesses.
The forensic financial expert may be familiar with assessing lost profits, earnings capacity, or even valuing a business, but what is the expert to do about damages arising from lost ability to engage in non-market work? In a personal injury, wronful death or similar tort cases, physical limitations may restrict market and non-market work the latter forming the basis for an additional source of damages.
Today's economists are still concerned however with issues of value and distribution and how market forces operate to price scarce resources like labor, land, machines and more recently information and time. The field is generally divided into two areas: macroeconomics and microeconomics.
Stanley P. Stephenson, David A. Macpherson & Gerald D. Martin
Uses proven procedures, checklists, samples and tables to value economic loss in wrongful death and personal injury cases. Learn how to calculate damages, what to ask a forensic economist, which tables to consult for current information on damages and more.
Richard M. Teichner, CPA, ABV, CVA, MAFF, CFF, CRFAC, CRFAU, DABFA, FCPA, CGMA, CDFA, licensed in both Nevada and California, has over 45 years of experience in public accounting, and for approximately 25 of those years his areas of practice have been primarily providing expert services and consulting services in business litigation and family law matters. With offices in Reno and Las Vegas, Nevada, Mr. Teichner's practice extends to various jurisdictions throughout the United States. Although Mr. Teichner's services are mainly weighted toward complex business litigation and divorce matters, they also include performing valuations of businesses and business interests for estate tax and gifting purposes and for buy-sell situations. Clients have been both businesses and individuals involved in various industries, such as manufacturing, distribution, retail sales, construction, real estate development, and transportation, and in professional practices, e.g. medical, law and accounting, and other service businesses.
Litigation Matters - Expert services are provided to business litigation and family law litigation attorneys representing either plaintiffs or defendants. Mr. Teicher has testified over 45 times at trial and approximately 40 times at depositions. He has been engaged as a testifying expert or consultant in a variety of complex business litigation and family law matters. Such matters have involved forensic accounting, damages claims; contract disputes; disputes among business owners; fraud, including white collar crime; breaches of fiduciary duty; standards of care; and personal injury and wrongful death. Family law matters have involved property division, tracing, marital waste, alimony, business valuations, and tax implications of divorce.
Areas of Expertise:
Economic Damages / Lost Profits
Personal Injury / Wrongful Death Damages
Divorce and Family Law Matters
Business Valuations / Appraisal
Intangible Assets Appraisal
White Collar Crime
Standards of Care; Breach of Fiduciary Duties
Reno Office 3500 Lakeside Ct, Suite 210 Reno, Nevada, 89509 Telephone: 775-828-7474 or (775) 530-5106
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