Mercer Capital is proud to announce the release of the third edition of Shannon Pratt’s The Lawyer’s Business Valuation Handbook. Four Mercer Capital professionals contributed their business valuation knowledge and thought leadership to the book: Z. Christopher Mercer, FASA, CFA, ABAR, Travis W. Harms, CFA, CPA/ABV, Timothy R. Lee, ASA, and Lucas Parris, CFA, ASA-BV/IA.
Business valuations are a critical subject for lawyers in many areas, such as divorce, bankruptcy, corporate and tax law, and estate and financial planning. The authors of this book, who have over 40 years of combined experience in transactional matters and litigation, present and discuss key concepts in valuation. At the same time, they explain how to dig beneath the surface of expert opinions and show how to find the most pertinent facts, interpret the data, and evaluate the quality and comprehensiveness of evidence.
It covers all aspects of determining the value of a business, including definitions of value; personal versus enterprise goodwill, valuing professional practices and small businesses, cross-examination, commonly used terminology and bodies of evidence, professional credentials and standards; and recognized and accepted valuation methods. Adding to the book’s usefulness are “Questions to Ask” for most sections, extensive case citations throughout to courts’ positions on many issues, and appendices that include a glossary, bibliography of business valuation databases, and other useful tools.
To purchase your own copy, follow the link here.
Chris Mercer is the Chairman of Mercer Capital. He began his valuation career in the late 1970s and has testified in five statutory fair value trials in New York. He has prepared, overseen, or contributed to hundreds of valuations for purposes related to tax, ESOPs, buy-sell agreements, and litigation, among others. In addition, he has served on the boards of directors of several private companies and one public company. He enjoys working with business owners to address ownership transition issues. Chris’s most recently released book is Buy-Sell Agreements: Valuation Handbook for Attorneys (ABA Book Publishing, 2024). The book contains a review of the Connelly decision. He is also the author of the well-referenced book Buy-Sell Agreements for Closely Held and Family Business Owners (Peabody Publishing LP, 2010), among other books.
Travis Harms is the President of Mercer Capital and leads the Family Business Advisory Services Group. His practice focuses on providing financial education, valuation, and other strategic financial consulting to multi-generation family businesses. The Family Business Advisory Services Group helps family shareholders, boards, and management teams align their perspectives on the financial realities, needs, and opportunities of the business. Additionally, Travis is a regular contributor to Mercer Capital’s blog, Family Business Director.
Tim Lee is a Managing Director at Mercer Capital serving on the firm’s transaction advisory, corporate valuation, and family business service groups. He is a longstanding board member of Mercer Capital and has over 30 years of diverse experience specializing in mergers & acquisitions, ownership succession, ESOPs, trust & estate matters, buy-sell matters, dispute resolution, and corporate planning. In 2011, Tim co-authored A Reviewer’s Handbook To Business Valuation: Practical Guidance To The Use And Abuse Of A Business Appraisal, with L. Paul Hood, Jr., JD, LLM (John Wiley & Sons, Inc.). He has made numerous publishing contributions in the form of book chapters, issue briefs, white papers, and newsletter articles to various organizations including The ESOP Association, NCEO, Business Valuation Resources, The National Beer Wholesalers Association, and the American Society of Appraisers Education Foundation. Tim has significant experience in numerous industries including the construction trades, equipment dealerships, building materials, merchant wholesalers, transportation, hospitality & multi-family real estate, professional service providers, food & beverage, fuel marketing, and others. His clients are primarily middle market and large enterprises with significant operating and financial complexity.
Lucas Parris is a Senior Vice President at Mercer Capital and the leader of Mercer Capital’s Financial Reporting Valuation Group. He also leads Mercer Capital’s Insurance Industry Team, where he specializes in valuation and advisory services for insurance agencies, brokerages, underwriters, third-party administrators, and other industry service providers. These services include independent valuations for corporate transactions, agency perpetuation, buy-sell agreements, financial reporting, tax compliance, and buy or sell-side consulting services.
