economics

  • Antitrust & Competition Policy

    Our antitrust experience covers the full range of economic analysis for litigation. We have served as testifying economists in matters involving price fixing, price discrimination, predatory pricing, monopolization and exclusionary practices, bundling and tying, and proposed mergers and acquisitions.

    We have provided economic analysis on antitrust liability, calculated damages, and evaluated the economic merits of class certification. Our antitrust and regulatory economics engagements have covered a wide range of industries, including pharmaceuticals, healthcare, telecommunications, gaming, computer hardware and software, chemicals, and automotive parts. We have particular experience in the intersection between intellectual property and antitrust economics.

  • Intellectual Property

    We have extensive experience in providing clients with the full range of economic analysis related to intellectual property including strategy, valuation, and litigation support. 

    Our strategy expertise includes advising clients on management of intangible asset portfolios, assessment of market potential, intercompany transfers of ownership and monetization of intellectual assets, development of cost sharing as well as in- and out-licensing strategies, and royalty compliance. 

    Our valuation expertise includes valuing individual or complex portfolios of patents, copyrights, trademarks, trade secrets, trade dress, and other intellectual assets for strategic and transfer pricing purposes. We have particular expertise in the valuation of early stage technologies, including pharmaceutical technologies in pre-clinical and clinical stages of development. We also assist clients with valuation for transfer pricing, mergers & acquisitions, and licensing agreements. Our expertise includes Monte Carlo simulation and real options analysis. 

    Our litigation experience includes assessing damages in patent and copyright infringement, false advertising, misappropriation of trade secrets, trademarks and trade dress, and unfair competition. We also have expertise in disputes between taxpayers and taxing authorities related to cost sharing, transfer of ownership, and licensing of intangibles. We have designed and conducted surveys to assess the demand for a patented feature in infringement disputes and to evaluate confusion and materiality in false advertising disputes. We have extensive experience analyzing the nexus between patents and the commercial success of a product in the context of the secondary considerations of non-obviousness.  We have provided F/RAND analysis in the context of standard essential patents. Our experts have testified on reasonable royalties, lost profits, analysis of irreparable harm, and commercial success on numerous occasions in domestic and foreign courts and arbitral and administrative proceedings. We have particular experience in the intersection between intellectual property and antitrust economics.

  • Valuation

    We have significant expertise in valuing businesses and individual intangible, tangible, and financial assets.

    Our valuation of intangible assets includes valuing individual or complex portfolios of patents, copyrights, trademarks, trade secrets, trade dress, manufacturing know-how, customer lists, work-force in place, and other unique or difficult-to-value intellectual assets. We have particular expertise in the valuation of early stage technologies, including pharmaceutical technologies in pre-clinical and clinical stages of development. We also assist clients with valuation for transfer pricing and tax planning, mergers & acquisitions, legal entity rationalization, taxable reorganizations, and in-licensing agreements. Our expertise includes Monte Carlo simulation and real options analysis. 

    Our valuation expertise in the context of litigation includes providing damages analysis in finance and securities disputes, including class action litigation, 10b-5 stock price litigation, and disputes between general and limited partners. Our experts have testified on economic liability and damages issues on numerous occasions in domestic and foreign courts and arbitral and administrative proceedings. 

  • Transfer Pricing

    Our transfer pricing expertise includes planning, documentation and compliance, dispute resolution, and tax valuation. 

    We provide advice on developing global transfer pricing policies and procedures, as well as guidance on implementing, setting, and monitoring remuneration for intercompany transactions. Our experience includes preparing contemporaneous documentation for multinational taxpayers to comply with tax authority requirements related to tangible, intangible, service, and financing transactions. We assist taxpayers looking to stay abreast of ever changing regulatory developments, proactively plan, and comply with the Base Erosion and Profit Shifting (BEPS) measures adopted by the OECD and individual countries, including Masterfile, local file, and Country-by-Country reporting.

    Our dispute resolution expertise includes helping taxpayers resolve transfer pricing disputes through various services, including assistance with advance pricing agreements, arbitration, litigation support, and expert testimony. 

    We have particular expertise assisting clients with the valuation of intangible assets (IP) and payments associated with establishing and implementing cost sharing (or cost contribution arrangements) and IP migrations and preparing valuations for tax purposes related to internal restructuring, mergers & acquisitions, and legal entity rationalization.

    We have significant experience in performing transfer pricing analyses required within domestic U.S. framework.  More specifically, we work with non-profit organizations to determine intercompany pricing between tax-exempt parent entities and their taxable subsidiaries.  We calculate the lease payment between Real Estate Investment Trusts (“REITs”) and their taxable REIT subsidiaries as well as interstate service payments between entities for purposes of addressing unclaimed property tax issues.  

    We also offer general transfer pricing consulting services to help middle market and small cap companies augment their in-house resources and meet needs that are not project based.

  • International Trade

    We have extensive experience in providing economic analysis in proceedings before the United States International Trade Commission. Our expertise includes analysis on issues such as the establishment of domestic industry, remedy, bond, and public interest. We have extensive experience analyzing the nexus between patents and the commercial success of a product in the context of the secondary considerations of non-obviousness.  We have provided F/RAND analysis in the context of standard essential patents. Our experts have provided testimony before the ITC on numerous occasions. 

  • Finance & Securities

    We provide economic analysis on finance and securities issues in and out of litigation. 

    Our litigation expertise includes providing damages analysis in finance and securities disputes, including class action litigation, 10b-5 stock price litigation, and disputes between general and limited partners. Our experts have testified on economic liability and damages issues on numerous occasions in domestic and foreign courts and arbitral and administrative proceedings, such as FINRA. 

    We also provide valuation of companies, securities and assets, both financial and intangible. We have particular expertise in the valuation of early stage technologies, including pharmaceutical technologies in pre-clinical and clinical stages of development. We also assist clients with valuation for transfer pricing, mergers & acquisitions, and in-licensing agreements. Our expertise includes Monte Carlo simulation and real and financial options analysis. 

    Our experience also extends to assisting financial institutions with stress testing. We have provided Comprehensive Capital Analysis and Review (CCAR) and Capital Plan Review (CapPR) to financial institutions. We have assisted financial institutions with capital planning, including evaluating stress scenarios, validating the macroeconomic parameters that comprise each scenario, and recommending adjustments for idiosyncratic scenarios. We have also helped develop scenario severity indices to compare stress scenarios released by the Federal Reserve for its CCAR with internal scenarios of our clients. And we have developed sophisticated dynamic models to perform sensitivity and shock analysis. 

  • Life Sciences

    We have extensive experience in providing life sciences clients with the full range of economic analysis, high-end analytics, transfer pricing, and strategy consulting, both in and out of litigation.  

    Our life sciences litigation experience includes economic analysis in breach of contract litigation involving brand v. brand and pharma v. biotech; patent infringement litigation involving branded companies or between brands and generics; antitrust litigation related to change of control, reverse payments, or pharmaceutical pricing; and False Claims Act (FCA) or anti-kickback allegations. We have extensive experience analyzing the nexus between patents and the commercial success of a product in the context of the secondary considerations of non-obviousness. In each of these areas, we have served as economists in the most high profile cases. 

    We combine our expertise in pharmaceutical economics with econometrics to address client needs for complex data analysis. We have deep experience with a wide range of healthcare information, from analyzing clinical trial data to physician prescribing surveys, dispensing data, claims data, and electronic medical records. We have assisted clients with analysis of healthcare data, both in the context of litigation (such as a government investigation) and as pre-emptive compliance. We have also designed and conducted custom surveys of physicians, nurses, purchasing managers, and other medical professionals. 

    For tax departments of life science clients, we offer a powerful combination of deep industry knowledge and experience with transfer pricing and tax valuation services including planning, documentation & compliance, and dispute resolution.

    Our strategy expertise includes advising pharmaceutical clients on pricing strategy, assessment of market potential, monetization of intellectual assets, development of in- and out-licensing strategies, and target identification for acquisitions. We have particular expertise in the valuation of early stage technologies, including pharmaceutical technologies in pre-clinical and clinical stages of development.

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