About the Author

Shannon P. Pratt, CFA, ARM, ABAR, FASA, MCBA, CM&AA, is a well-known authority in the field of business valuation and has written numerous books that articulate many of the concepts used in modern business valuation around the world. He is chairman and CEO of Shannon Pratt Valuations, Inc., in Portland, Oregon. Dr. Pratt has performed valuation engagements for mergers and acquisitions, employee stock ownership plans, gift and estate taxes, incentive stock options, buy-sell agreements, corporate and partnership dissolutions, dissenting stockholder actions, damages, marital dissolutions, among others. He has testified in a wide variety of federal and state courts and frequently participates in arbitration and mediation proceedings. Alina V. Niculita, CFA, ASA, MBA, is president and COO of Shannon Pratt Valuations, Inc., in Portland, Oregon. She is a Chartered Financial Analyst and an Accredited Senior Appraiser in business valuation of the American Society of Appraisers. Ms. Niculita works on all aspects of case management, including the fundamental aspects of business valuation and economic analysis and report writing. She has been involved in business valuation engagements for various purposes, such as transactions in company stock, estate and gift taxes, and litigation support.