Business Valuation in the Law

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 judgments including key contemporary and historical decisions from Australia and the United Kingdom.

General valuation principles and business valuation methodologies are explained and discussed at a high level, contextualising 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 and hindsight;
• the application of minority and marketability discounts when valuing shares; and
• ethical considerations for business valuers.

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