- Proving Economic Loss in Business Cases
- February 21, 2014
- Law Firm: Lamothe Law Firm LLC - New Orleans Office
Frank Lamothe's article, “Proving Economic Loss in Business Cases,” covers loss- of-profit claims, which can appear in a variety of cases including breach of contract, fraud, business interruption insurance claims, patent and trademark litigation, breach of fiduciary duties, as well as other claims. The article covers the challenges associated with loss-of-profit claims.
As noted by Mr. Lamothe, “Loss-of-profit claims will be subject to vigorous factual review by courts because these claims involve a projection of what should have happened but did not happen. To meet the reasonably certain standard, the evidence offered must be objective and the profits must be calculated using reliable methodology. Experts will almost always be involved. It is important for these experts to analyze all data carefully, including data from the company claiming loss as well as outside data involving marketing, economic, regulatory, and other forces that could impact the business.”