What seems apparent is that validations of valuation have made unicorns look more like a herd of Uber drivers in San Francisco.
The most significant court case was probably Gross vs. Commissioner, which held that an S-Corp has a tax rate, but that tax rate was zero.
A point often overlooked is that customers usually purchase products or services because of the presence of intellectual property, not a relationship.
The asymmetric nature of carried interests requires the consideration of a range of scenarios.
In reality, many businesses are a perfect fit for ESOPs.
In several instances, the knowledge gained from valuation support in the due diligence phase results in modifications or cancellations of transactions.
Determining the fair value of M&E assets for financial reporting purposes should include the consideration of three forms of depreciation: physical, economic and functional.
Business development companies, or BDCs, represent a growing class of relatively large, closed-end, SEC-registered funds.
Nuanced securities typically contain options and market conditions that alter cash flows over the life of the security and raise valuation challenges.
A prudent investor will either implicitly or explicitly consider FO in the determination of a purchase price for the entire business.