Business Valuation in the Law

Australia Title

Business Valuation in the Law examines the legal concepts, case law and judicial reasoning in relation to the valuation of businesses and shares.

This is much more than simply a "how-to" guide to business valuation. It is a long-awaited legal text containing the case law and judicial reasoning on topics specific to business valuation, referencing hundreds of judgements including key contemporary and historical decisions from Australia and the UK.

General valuation principles and business valuation methodologies are explained and discussed at a high level, contextualizing the case law and judicial reasoning on topics specific to business valuation.  These include:

• the legal and accounting distinctions between market value, true value and fair value and the circumstances in which each standard of value is applicable,
• the appropriate methodologies to apply depending on the measure of damages,
• the selection of earnings parameters, valuation multiples and the components of discount rates,
• the appropriate use of foresight & hindsight,
• the application of minority & marketability discounts when valuing shares, and
• ethical considerations for business valuers.

It is an essential resource providing long sought-after guidance for solicitors, barristers, the judiciary, accountants and valuation professionals.

table of content

Preface

Acknowledgments

Tables

Chapter 1 - Market Value

Chapter 2 - Valuation Date and Measures of Damages

Chapter 3 - True Value, Fair Value and Other Measures of Value

Chapter 4 - Valuation Methodologies Generally

Chapter 5 - Capitalised Earnings Valuations

Chapter 6 - Discounted Cash Flow Valuations

Chapter 7 - Foresight and Hindsight in Business Valuation

Chapter 8 - Discounts for Minority Interests and Marketability

Chapter 9 - Net Asset Backing and Liquidation Value

Chapter 10 - Goodwill and Other Intangible Assets

Chapter 11 - Business Valuers as Experts

Index