-
AI is only as smart as the internet
Punchline: an customer got rickrolled by an AI. So what actually happened? Lindy.AI is an AI company that creates AI tools, including tools for customer support, HR, recruiting and sales. The story goes that CEO Flo Crivello was reviewing the output from their AI when a new customer asked for a video tutorial on how…
-
The Basics of Forensic Accounting
Forensic accounting is a specialized field that merges accounting, auditing, and investigative skills to examine financial records and transactions. This discipline is particularly relevant in litigation contexts where financial or accounting records play a crucial role. For lawyers, understanding forensic accounting is essential for effectively managing cases involving financial disputes, fraud, or embezzlement. Forensic accounting…
-
How to Value: Hardware Stores
Industry Description The hardware stores industry in the US primarily retails new home renovation equipment and supplies (NAICS 444100). Goods retailed include hardware, plumbing, electrical and paint-related tools. The following are some basic characteristics of the hardware stores industry: Industry Trends The hardware stores industry has low levels of market share concentration, with the…
-
Estate Tax Implications of Connelly vs. IRS
Life insurance proceeds are considered corporate assets, and need to be included when calculating the value of the company, potentially imposing additional estate tax liabilities. There are multiple ways to avoid this, including designating the individual owners as beneficiaries of the life insurance policy rather than the corporation. Background Brothers Michael and Thomas Connelly were…
-
NFL Opens Doors to Equity Firms
In a significant shift for the National Football League (NFL), recent changes to the league’s ownership rules now permit equity firms to invest in minority shares of teams. This development marks a major transformation in the way NFL teams can be financed and managed, potentially reshaping the league’s ownership landscape. The NFL is the last…
-
How to Value: Nursery & Garden Stores
Industry Description The nursery & garden stores industry retails a broad range of nursery and garden products to households and the farming community (NAICS 444200). Retailed products include trees, shrubs, plants, seeds, bulbs and sod. This industry also retails farm supplies such as animal feed, excluding pet food. The following are some basic characteristics…
-
The Basics of Fixed Fee Engagements
Fixed fee engagements are beneficial for both the client and the expert witness. The client knows in advance what the final deliverable will be and how much it will cost. For the expert witness, it is easier to bill and collect when compared to billing hourly rates, preparing a detailed bill, then wait for review…
-
Common Pitfalls in Lost Profits
Accurately assessing lost profits is crucial for determining adequate compensation in legal disputes. However, this task is fraught with potential pitfalls, and mistakes can undermine the credibility of a claim, affect settlement efforts, and influence court decisions. To ensure precision and reliability, it is essential to be aware of and avoid common pitfalls in the…
-
How to Value: Tire Dealers
Industry Description The tire dealers industry retails tires and tire tubes for automobiles like passenger cars, sport utility vehicles and commercial trucks (NAICS 441300). This industry includes maintenance services and excludes mail order and online tire sellers. The following are some basic characteristics of the tire dealers industry: Industry Trends The tire dealers industry is…
-
Special Issues in Intellectual Property Valuation
Intellectual property valuation is a complicated subject. Intellectual property valuation is hindered by the difficulty of sourcing financial information specific to the intellectual property. It is difficult (though not impossible, that is what Our Experts do) to separate the economic effects of an intellectual property from that of the company exploiting them. Intellectual property suffers…
