The Unique Role of an Economic Damages Expert

Do you need the assistance of a damages expert due to a perpetrated a wrongful act, personal injury, and wrongful death matters, economic damages, such as lost profits or professional liability matters involving accounting issues? Have you tried all other avenues and failed because of your burden to establish causation?

Such circumstances require you to engage the services of a Damages Expert Witness or an Economic Expert Los Angeles who play a vital role in expert testimony on your behalf and an important and frequently necessary component of civil litigation to introduce evidence regarding matters requiring technical or specialized knowledge.

Qualified as an expert by knowledge, skill, experience, training, or education, a consulting California Damage Expert is key in the development, evaluation, and preparation of the defense or prosecution of a case that is outside the scope of the ordinary layman’s experience or involves complex issues that challenge the layman’s comprehension.

California Damages Experts are frequently used by attorneys in special cases for example where the court needs to establish how a Plaintiff’s accident affects their ability to work and earn money due to a sustained permanent physical injury and in this case, a competent and experienced Economic Expert Los Angeles can greatly increase the value of the plaintiff’s claim by calculating and defining the various economic losses a plaintiff has or will suffer as a result of an injury because juries often do not know how to place a dollar amount on a plaintiff’s pain and suffering unless there is a clear assessment and quantification report and testimony from an Economic Expert Los Angeles.

Such injury claims report from a damages expert may range from lost wages, loss in earning capacity, lost business profits, or payments made to others for services incurred as a result of the injury. But how does one go about finding the perfect damages expert who will not undermine your case but someone who is perfect for the success of any lawsuit?

Because truth be told, an Economic Damages Expert Los Angeles role is fundamental in any legal battle, which why it pays to know what to look for. Here are some good practices of a damages expert:

While many lawyers like to wait until the last minute to bring in a damages expert because they hope to either settle the case or they don’t necessarily want to incur additional expenses, a great Economic Expert Los Angeles is one who is always prepared, they take minimal time to master the relevant materials of a case and can, without being bias, consider the facts from the client’s perspective and arguments from the opposing side.

You also want to target the damages expert you need that is well-versed in a specific industry and has a substantial experience in giving depositions and is comfortable being put on the witness stand.

Consider Economic Expert Los Angeles who has your best interests and will not charge you more than you need to pay. 

Practices of a Good Financial Expert Witness

A Financial Expert Witness has various roles in litigation where their job is to provide insight and consult in cases involving, but not limited to investments, financial valuation, securities, trading, fraud examination, lost business goodwill, damages from infringement of intellectual property, diminution of business value and so much more. When business disparities arise, which they often do, and can’t be resolved through arbitration proceedings, business litigation can be used as a way to remedy the situation.

Complex business litigation requires the expertise of a Los Angeles financial expert witness who has specialized knowledge in areas such as accounting and financial reporting, economics and finance, investment and business transactions. They also possess specialized knowledge, education, and skill that allow them to evaluate and in turn, present complex case evidence in a plausible manner that a judge and jury will understand.

It is important to mention that a testifying Financial Expert Witness is not an advocate for the client’s position but an advocate for his/ her opinion and in some cases they may arrive at opposing opinions based on the evidence they are asked to consider and the assumptions they make. Suffice it to say, Los Angeles financial expert witness testifying on the issues of liability and damages present unique challenges and opportunities.

Another important job of Los Angeles financial expert witness in relation to Business valuation services entails offering practical insight into the strategic, operational and financial affairs of a business regardless of its industry. They execute an in-depth analysis to provide you with an accurate and defensible business valuation report when it comes to:

• Complex financial instruments
• Portfolio and M&A valuation
• Tax and advisory
• Valuation disputes
• Fair value reporting
• Estate and gift tax
• Litigation
• Departing shareholder
• The potential sale of a company
• Impairment testing and much more

Business valuation services provide you with powerful knowledge regarding the true value of your business, and a proper evaluation is vital to businesses who are considering negotiation a merger, considering estate and succession planning, contemplating new shareholders or a business involved in a marital dissolution, which is why you require the services of a certified business valuation analyst who can use sound judgment and has had prior experience in evaluating various business entities in the past.

For a successful engagement in court, establishing a good working relationship between a financial expert and a family lawyer from the get go is key. The lines of communication must remain open in order to prepare and present a successful financial report and testimony. An effective consulting Business valuation expert will have the ability to analyze case information and provide counsel with informed insights in a clear and unrestrained manner.

If you need to know the value of your business or an interest in it, consider a Business valuation services firm that is known for its integrity, reputation, knowledge, experience, and expertise so as to meet your specific business valuation needs.