Lost Profits: Principles, Methods and Strategies to Prove and Defend Damages
In today’s challenging legal climate, lost profit damages are crucial yet difficult and complicated to ascertain in a commercial dispute. With the intricacy of the evidence required as well as the basis for the reasonable estimate of damages, proving and defending against lost profit claims have been challenging. Failure to have inaccurate calculations and improper defense strategies, may reduce the probability of recovering damages.
Hence, it remains essential to have an in-depth knowledge of the governing principles, as well as the appropriate methodologies when calculating lost profit damages to avoid potentials risks and legal pitfalls.
In this LIVE Webcast, a panel of key thought leaders and practitioners assembled by The Knowledge Group will provide the audience with an in-depth discussion of the principles, methodologies, and strategies in proving and defending lost profit damages. Speakers will also present risk mitigation techniques to avoid pitfalls in this evolving regulatory climate.
Some of the major topics that will be covered in this course are:
- Lost Profits: Overview and Statistics
- Selecting Appropriate Methodologies
- Proper Damage Analysis and Best Defense Strategies
- Risk Mitigation Techniques
- Trends and Updates
NERA Economic Consulting
NERA Economic Consulting
- What are Lost Profits?
- How do damages experts derive lost profit models?
- How can you, as an attorney, understand the implicit assumptions in a model?
- Where must assumptions lie within every model and how can you parse them out from their technical abyss
Who Should Attend:
- Commercial and Contract Managers
- Commercial Litigators
- Corporate Lawyers
- Forensic Accounting Officers
- Financial Reporting/Management Officers
- Risk and Compliance Managers
- Business Executives
Richard Eichmann specializes in the application of applied economic analysis in intellectual property, securities, and other commercial litigation. His skills include valuation, econometrics, statistics, sampling, and survey research. He has calculated economic damages in a variety of industries, including the automotive, airline, credit card, financial, energy, gaming and pharmaceutical industries. He has filed expert reports in Federal court on the application of statistical methods, sampling, survey design, and business valuation, lost profits, and patent damages. He has provided arbitration, deposition and trial testimony.
Prior to joining NERA, Mr. Eichmann provided economic analysis and dispute advisory services at public and private litigation consulting firms as well as two Big 4 accounting firms. In addition, he has worked as an analyst in the automotive industry utilizing proprietary survey research data for time series analysis and as a research assistant for the Survey Research Center at the Institute for Social Research in Ann Arbor, Michigan on panel study surveys.
Richard Eichmann specializes in the application of applied economic analysis in intellectual property, securities, and other commercial litigation. His skills …
Dr. Bremser has more than 20 years of experience providing expert services before energy regulatory agencies and within commercial disputes. Prior to joining NERA, Dr. Bremser was at the Federal Energy Regulatory Commission (FERC) in the Office of Administrative Litigation as an expert witness on behalf of FERC Trial Staff from 2015 to 2019. In the private sector, Dr. Bremser has assisted clients with economic analysis for commercial disputes. He has analyzed economic damages due to alleged breach of contract in industries such as merchant electricity generation, natural gas storage, crude oil, mining equipment, and automotive parts. He has conducted economic damage analyses involving allegations of a breach of fiduciary duty in the management of investment portfolios and trust management regarding life insurance. Dr. Bremser has completed economic damages analyses involving business torts such as environmental claims, and economic damages associated with alleged patent infringement, copyright infringement, trademark licensing, and trade secrets.
Dr. Bremser has taught finance courses at Virginia Tech. He has published articles in the Journal of Legal Economics.
Dr. Bremser has more than 20 years of experience providing expert services before energy regulatory agencies and within commercial disputes. …
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Method of Presentation:
General knowledge of commercial litigation
NY Category of CLE Credit:
Areas of Professional Practice
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About NERA Economic Consulting
NERA Economic Consulting (www.nera.com) is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. For over half a century, NERA's economists have been creating strategies, studies, reports, expert testimony, and policy recommendations for government authorities and the world’s leading law firms and corporations. We bring academic rigor, objectivity, and real world industry experience to bear on issues arising from competition, regulation, public policy, strategy, finance, and litigation.