A business can lose profits simply by an individual’s intentional (or unintentional) act. The event can be caused by a multitude of factors, including fraud, contract disputes, and defamation. Lost profits can be a complex and emotionally devastating event for any business. A business may suffer lost profits when an individual’s wrongful conduct causes:
This situation is frustrating for the business owner. The owner did not cause the situation but suffers from the wrongful conduct. The damages from the lost profits can sometimes be so severe that the business never commences operations again. Most business can litigate for the damages caused by this type of event.
The most common type of lost profit damages are:
When these events happen, the business and legal counsel will need assistance to determine the amount of damages. They need an expert who understands the proper methods and calculations in a lost profit case.
At Hovland Forensic & Financial we utilize our experience to provide an expert calculation and report. First, we analyze the event to determine which generally accepted method fits the situation. The methods we employ are:
Our lost profit damages reports are compiled using one of the accepted methods. Each calculation and assumption will be supported by exhibits. We believe there should be no doubt as to how a number was derived and the impact on the business. The report is a key piece of the litigation and needs to stand on its own.
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