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Critiquing an Expert Report: Step 7 – Discounting Future Damages

Step 7 to critiquing an expert report on damages in a involves identifying the extent to which the damages period extends beyond the current date (or anticipated trial date) and assessing whether or not the expert reasonably present valued the future damages (e.g. lost profits) to the breach date or the trial date at an appropriate discount rate.

The discount rate used to present value fu...

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A Major Trend That Should Concern Business Owners

Heading into a New Year is the perfect time to reflect upon the challenges and successes of the past year and set new goals for the coming year.  Many business owners may be planning to in 2013.  Perhaps some boomers have already delayed this event, for various reasons, and are hoping 2013 will be the year they begin the transition out of their business.

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Critiquing an Expert Report: Step 6 – Identify the Damages Period

Step 6 to critiquing an on damages involves identifying and assessing the reasonableness of the period over which the expert has calculated damages.  The damages period is often one of the major assumptions underlying a damages calculation which, if altered, can have a significant impact on the conclusions.

There may be situations where an expert h...

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Critiquing an Expert Report: Step 5 – Identify the Damages Approach

You have researched the author’s credentials, checked for scope limitations, identified the underlying assumptions and assessed the nature of the opinion being provided.  Step 5 involves identifying and assessing the damages approach adopted by the . 

"There are many ways to approach an analysis of a loss resulting from a particular set of facts. Part of the expert’s role is to identify all of these alternatives ...

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7 Things To Do Before Signing a Letter of Intent

Approximately $1.9 trillion in business assets (or 310,000 businesses) are poised to change hands over the next 5 years, increasing to $3.7 trillion (or 550,000 businesses) over the coming decade.  This will be the control on record. [1]

What are the implications to business owners in Canada?

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Critiquing an Expert Report: Step 4 – Nature of the Opinion

You have finished researching the author’s credentials, checking for scope limitations and identifying the major and minor assumptions underlying the conclusions.

The fourth step in reviewing an involves considering the actual conclusion itself and seeking to ascertain whether it reflects an expert opinion or merely calculations based on representa...

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Building a Business for a Successful Transition

Recent studies show that 75% of boomers will within the next 10 years, 50% within 5 years.

"According to CIBC, an estimated $1.9 trillion in business assets are poised to change hands in five years — the biggest transfer of Canadian business control on record." [1]

 

The increasing supply of businesses for sale over this ...

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Critiquing an Expert Report: Step 3 – Assumptions

The third and, in my view, most important step to critiquing an expert report involves identifying and assessing the reasonableness of the assumptions relied upon by the expert.  The extent to which the underlying assumptions are not reasonable and/or not supported can significantly impact the reliability of the findings.

An expert report should identify the underlying assumptions.  In...

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Critiquing an Expert Report: Step 2 – Scope Limitations

After checking the author’s credentials, the second step to critiquing an expert report involves identifying any major scope limitations, restrictions and qualifications rendered on the conclusions.  This will help ascertain whether or not sufficient work was conducted by the expert to support the conclusions arrived at.  The extent to which the expert’s scope of review has been restricted can seriously impact the reliability of the findings co...

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Critiquing an Expert Report: Step 1 – Credentials

The first step to critiquing an on damages involves reviewing the author’s credentials and qualifications.

 

The Rules of Civil Procedure stipulate that it is the expert’s duty to provide opinion evidence that is related only to matters that are within the expert’s area of expertise.  It therefore makes sense to conduct a thorough review of the expert’s area of exper...

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