The Expert Witness Exchange: Marketplace Platform for Aspiring and Experienced Litigation Support Professionals

Until now, a lawyer could not put out a call for help with a single case description and submit that to one, a dozen, or an entire community of relevant subject matter experts simultaneously with the single push of a button. Until now, an expert might have to choose between paying for advertising to be listed in a directory and/or set up their own website in the hope that additional expert witness consulting work would flow to them. The Exchange’s marketplace offers a different paradigm and value proposition. This has been a long time coming and will serve the interests of both the legal and expert witness communities in support of the justice system which the collaboration is meant to serve.

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You Can’t Have Your (Net Working Capital) Cake and Eat it Too!

What is net working capital? The definition of net working capital is not fixed, and the meaning may vary by industry. It is also a key factor in a valuation and understanding there is a deficiency or excess will impact the value of the company and structure of an acquisition.

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The Debate Over the Efficient Market Hypothesis’ Effect on Contested Valuations: Context Matters

Although many valuation practitioners are generally indifferent to context when valuing a business or asset, in litigation, as well as other areas that require valuation services, context matters. In this article, the author discusses how context and the market efficiency hypothesis shape contested valuations in various types of valuation-related disputes.

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The Economic Balance Sheet and its Application to Enterprise Valuation

The value of a firm must equal the value of the claims on its assets. In practice, this is generally expressed as the value FIRM = value DEBT + value EQUITY. Similarly, in a balance sheet prepared in accordance with generally accepted accounting principles (GAAP), assets = liabilities and equity. By comparison, an economic balance sheet is constructed using market values rather than amounts reported in accordance with GAAP, items included are classified as operating, non-operating, debt or equity-related rather than current or long-term, asset or liability, and it includes economic assets and liabilities not recognized under GAAP. The insights derived from these differences are useful in valuing an enterprise and understanding how its value is affected by the relationships between its assets, capital claims, and cash flows. This article discusses how to value a firm using the economic balance sheet.

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