What’s Behind the Proliferation of Unicorns?
What seems apparent is that validations of valuation have made unicorns look more like a herd of Uber drivers in San Francisco.
Understanding and Valuing S Corporations
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.
Distributor Method: An Alternative Technique for Valuing Customer Relationships
A point often overlooked is that customers usually purchase products or services because of the presence of intellectual property, not a relationship.
Valuing Carried Interests
The asymmetric nature of carried interests requires the consideration of a range of scenarios.
ESOP Fables: Reviewing The Myths and Facts About Employee Stock Ownership Plans
In reality, many businesses are a perfect fit for ESOPs.
Pre-Acquisition Valuation: Intangible Assets and Contingent Consideration
In several instances, the knowledge gained from valuation support in the due diligence phase results in modifications or cancellations of transactions.
M&E Assets: Determining the loss of asset value from functional obsolescence
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.
The ABCs of BDCs: Private Debt and SEC Concerns
Business development companies, or BDCs, represent a growing class of relatively large, closed-end, SEC-registered funds.
Common Valuation Issues With Illiquid Securities
Nuanced securities typically contain options and market conditions that alter cash flows over the life of the security and raise valuation challenges.
Functional Obsolescence: Loss of Asset Value Caused By Inefficiency or Inadequacies
A prudent investor will either implicitly or explicitly consider FO in the determination of a purchase price for the entire business.