Our CLE courses are presented by Stout experts and built to provide attorneys with training on the latest skills, trends, and insights in the legal industry.

The list below is a sample of the courses we offer; we are willing to customize a course to accommodate your specific needs and audience interest. Each course can also be customized to meet specific length and/or credit hour requirements. Stout is an accredited CLE provider for Illinois and California MCLE. Courses may also qualify for CLE credit in other states.

Best Practices on Managing a Licensing Portfolio
Successfully entering a licensing agreement is only the beginning of the intellectual property portfolio monetization process. With almost 90% of royalty audits uncovering underreported royalties, a post-license monitoring program is important in ensuring that you get what you have bargained for. Such programs not only help make certain proper reporting and payments of royalties but also offer many other benefits. This course explains, in simple and straight forward terms, the post-license monitoring program, the associated benefits as well as what to expect in a royalty audit, common findings from those audits, and recommendations.

Determining FRAND Royalties for Standard Essential Patents
This course discusses the background and significant rulings in various cases related to FRAND commitments for standard essential patents. We will discuss the main issues for setting FRAND royalty rates such as hold-up and lock-in, reliance on Georgia-Pacific analysis, aggregate rates and royalty stacking, rates from comparable agreements, and the form of the FRAND royalty.

IP Valuation 101
This course will explore valuation fundamentals such as the purpose of the valuation, valuation date, and standard of value. The course will also cover the three primary valuation approaches – Income, Market, and Cost. Finally, we will provide a short case study showing a practical application of the concepts that have been covered. This course can also be customized to focus on a specific type of intellectual property asset including patents, trademarks, trade secrets, and the right of publicity.

Measuring the Mark: Use of Web Analytics and Social Media Data in Trademark Disputes
A number of issues in trademark litigation may be informed by identifying the extent to which consumers have been exposed to disputed marks. Specifically, analyzing and understanding the dissemination of messaging involving the asserted and alleged infringing marks, as well as associated consumer impressions derived through that messaging, may help in determining 1) confusion, 2) secondary meaning, 3) extent of use, 4) corrective advertising, and 5) market penetration in disputes involving common law rights. As methods of disseminating consumer messaging have moved toward Internet advertising and social media usage, new data sources and analytical techniques have emerged to help measure the resulting consumer impressions. In this course, attendees will learn how to use web analytics and social media data to supplement traditional evidence in demonstrating the volume, frequency, costs, and sources of consumer impressions of the asserted and alleged infringing marks.

Methodologies for Determining Intellectual Property Infringement Damages
This course provides an introduction to the primary remedies available in intellectual property matters, including lost profits, reasonable royalties, disgorgement of profits, and enhanced and statutory damages. The course can be customized to incorporate a discussion of relevant case law relating to patent, trademarks, copyrights, and/or trade secrets damages.

Methodologies for Reviewing and Comparing Patent License Agreements
This course provides an overview of the relevant Georgia-Pacific factors coupled with a deeper dive into the economic and technical factors that the courts will review when assessing comparability (e.g., arms-length licenses, established royalties, settlement licenses, and industry surveys, etc.).

Patent Valuation for the Pharmaceutical Industry
The drug development process poses the patent valuation analyst with unique challenges associated with the significant time, monetary investment, risk, and uncertainty associated with successfully completing the FDA regulatory process and bringing a drug to market. This course will briefly cover the basics of patent valuation but will primarily focus on how the valuation analyst uses various tools such as decision-trees, risk-adjusted cash flows, and probability-adjusted scenarios to address the significant risks associated with drug development. We will also discuss important sources of information for implementing various valuation approaches and selecting certain inputs to the valuation analysis.

Recent Court Decisions Affecting Patent Damages
This course addresses recent Federal Circuit and district court decisions. The presenters will discuss recent cases covering topics such as the Entire Market Value Rule (EMVR); lost profit damages; use of settlement agreements and damages associated with infringement of design patents.  The course also addresses specific issues related to jury instructions and interrogatory responses, which have affected damages in recent cases.

The Intersection of IP Valuation and Damages
In the context of a patent infringement case, the valuation of the patent-in-suit is sometimes presented as evidence potentially relevant to the damages determination. Some defendants have argued that the patent-in-suit’s assessed value or purchase price may be limiting as to damages. This course explores the similarities and differences between patent valuation and damages and exposes why, in some circumstances, damages may be significantly higher than a patent’s assessed value or purchase price.

Understanding Apportionment and the Entire Market Value Rule
In the past several years, a number of Federal Circuit opinions have provided guidance to help understand and correctly apply Entire Market Value Rule (EMVR). This course examines the development of the apportionment concept and the EMVR in relevant case law and explains the economic basis underlying these concepts. It also discusses recent cases related to apportionment when utilizing the smallest saleable unit for the royalty base.

Valuation for IP Transactions
This course will focus specifically on valuation issues relevant to intellectual property licensing and buy/sell transactions. We will cover basic valuation concepts including the application of the three primary valuation approaches – Income, Market, and Cost. We will also provide insight into the development of a range of negotiation by considering relevant valuation issues from the perspective of both parties to the transaction. Finally, we will provide a short case study showing a practical application of the concepts that have been covered.

Working with a Damages Expert in IP Litigation
In this course, we discuss how attorneys can effectively identify, vet, and work with their intellectual property damages expert throughout the litigation process. The course will cover issues associated with hiring a damages expert, considerations in due diligence, and the damages expert’s potential role in assisting counsel and its clients. We will also discuss the importance of working with a damages expert in pre-case or early-case damages estimates, discovery, trial, and post-trial activities.

Accounting 101
This course will explore the importance of understanding financial statements and how financial statements can be used in a litigation matter. The ability for counsel to understand the basics of accounting is essential in formulating strategic and technical objectives in all types of cases. In this course, the audience will learn about the essential components of accounting, including the format of financial statements, how to interpret financial statements, and how financial statements can be utilized in lawsuits.

Alter Ego / Piercing the Corporate Veil Investigations
The course will provide a general overview of the corporate form and what is known as the corporate “veil” to “shield” the owners of a corporation or limited liability company from personal liability for the debts, obligations, and liabilities of the business. The course will identify several financial analyses that may be considered in “piercing” judgments by the court, such as investigations into potential fraudulent activities, documentation of commingled (or separated) business and personal funds and obligations, evaluation of related party transactions, and assessment of the capitalization of the company.

Commercial Damages 101
A basic understanding of how economic damages in commercial litigation cases are typically calculated can be crucial in properly planning and executing a litigation strategy. This course covers the common remedies typically sought in commercial litigation matters and how those remedies are determined. In particular, this course will focus on how lost profits and lost business value are determined and the various frameworks that are often times used to evaluate those remedies. Additionally, this course will examine the damages expert’s duty to consider causation when calculating economic damages and include a discussion of the concept of “reasonable certainty.”

Combating Fraud Against the Government – A Look Into the False Claims Act
With the increased attention by the DOJ to prevent both companies and individuals from defrauding governmental programs, an understanding of the False Claims Act (FCA) and the related provisions can be valuable in the defense of alleged FCA violations. In this course, we will provide an overview of the FCA, trends in FCA enforcement actions, and recent developments in the fight against defrauding the government.

Developing Case Strategy and Approaches Regarding Complex and Data-Intensive Financial/Litigation Matters
This course provide insights about complex data-intensive matters from the viewpoint of expert witnesses and accounting forensics practitioners for the purpose of helping attorneys and their clients develop appropriate strategies and approaches in litigations and investigations.

Enforcing Monetary Judgments: Ability-to-Pay Analyses
The course will provide attendees with a basic understanding of issues related to the enforcement of monetary judgments and fines in litigation and arbitration awards and government enforcement actions. The course will cover the applicability of ability-to-pay analyses, common techniques used to assess a corporate or individual entity’s ability to pay a judgment, and common sources of information used to conduct the analyses.

Financial Analyses of Avoidance Actions
The course will discuss the types of analyses commonly performed by financial experts in assessing and evaluating preference actions and/or fraudulent conveyance allegations. More specifically, the course will cover the evaluation of various potential defenses to preference actions, including “ordinary course of business” and “new value” defenses, and various analyses relevant to investigating fraudulent conveyance allegations, including different tests of solvency and indicators of intent.

Foreign Corrupt Practices Act Enforcement Update
The ability to understand the intricacies of the Foreign Corrupt Practices Act (FCPA) Enforcement Policy and how the DOJ and the SEC can be valuable in the defense of alleged FCPA violations. In this course, we will provide an overview of the FCPA enforcement policy, trends in FCPA enforcement actions, recent DOJ and SEC enforcement actions and new developments in the fight against bribery.

Fraud Trends and Investigations
Earnings management, revenue recognition, ponzi schemes, and other issues that companies face in internal investigations are constantly changing. This course discusses current fraud trends and areas that companies should be on the lookout for in future dealings with fraud and employee misconduct. 

Internal Investigations - Accounting and Financial Considerations
The course will expand on key financial and accounting considerations at the outset of an investigation, the processes and procedures used during the investigation by financial experts, common issues or roadblocks in conducting the financial aspects of an investigation, dealing with regulatory and audit firm participation in the investigation, and items to consider in concluding the investigation.

Internal Investigations - Asset Misappropriation and Regulatory Violations
The course will assist you in understanding the investigative process from start to finish, including an overview of the various techniques and tools commonly used during investigations. The course will provide an overview of the collection of documents and data, conducting interviews, analyzing information obtained, summarizing findings, and drafting reports that are used by management, Board of Directors, investors, and regulators. The course will also touch upon dealing with external parties such as external counsel, auditors, and regulators before, during, and after an investigation.

Lessons Learned from Post-M&A Disputes
While the risk of post-M&A disputes can never be completely eliminated, understanding the areas where they commonly occur can reduce the risk of disputes after the deal closes. In this course, we look at the three common types of post M&A disputes: a) Working Capital Disputes; b) Earnout Disputes, and c) Breaches of Representations and Warranties, and discuss the issues that often times result in each type of dispute. Additionally, we address some contractual language considerations that may help reduce the likelihood of disputes as well as the implications of transaction insurance.

Overview of Financial Crime Enforcement Network's Proposed Anti-Money Laundering Rule for Registered Investment Advisers
Under the Financial Crime Enforcement Network (FinCEN), registered investment advisors who are registered with the SEC as 'financial institutions' are required to implement an anti-money laundering (AML) compliance program. This course provides an overview of the proposed rule's requirements, what is not included in the proposed rule, what else firms should do under the proposed rule, what firms can do now to prepare, and provides links to helpful AML resources and tools.

Working with Damages and Forensic Accounting Experts
From the analysis of financial data in a commercial damages matter to the identification of assets in a marital dissolution or a fraud investigation, this course provides an overview of how forensic accounting experts can assist with investigating and quantifying financial loss and present findings to a judge, jury or mediator.

Business Valuation: A Primer for the Legal Professional
Business valuation issues arise in many situations in which attorneys are involved. The goal of this course is not to teach attorneys how to value a business themselves, but rather to arm them with enough information to be able to:

  • Understand the context of a valuation and the basics of the underlying theories and approaches;
  • Ask well-thought out questions regarding the valuation analysis during the attorney’s review of work;
  • Challenge the assumptions and play devil’s advocate with respect to the work;
  • Confirm that the assumptions and premise on which the valuation is based are not inconsistent with the law or legal arguments on the case; and
  • Design questions to ask the valuation expert for purposes of direct testimony or cross examination.

Expert Witness Selection
The objective of this course is to present criteria you need to select and prepare expert witnesses in advance of trial. Specific topics include types of witnesses, the role of expert witnesses, keys in selecting witnesses, and preparing witnesses for testimony.

How to Review a Business Valuation Report
When reviewing a business valuation report, which assumptions, methodologies, underlying data, etc. should be examined closely? This course will provide instruction on how to assess the quality and reliability of valuation analyses. In addition, the course will provide tips on how to most efficiently review a report to understand the key components leading to the conclusion of value.

How to Review a Commercial Real Estate Report
When reviewing a commercial real estate appraisal report, which assumptions, methodologies, and underlying data should be examined closely? By presenting key questions to ask of the appraiser, this course will provide a guide on how to assess the quality and reliability of commercial real estate appraisals.

Income Determination Basics for Privately-Held Companies
Oftentimes, when parties to a divorce own interests in privately-held partnerships or companies, it can be difficult to determine the true level of cash flow available for support. This presentation will identify situations in which determining cash flow may be difficult and provide solutions to arriving at an accurate calculation of cash flow when presented with these situations. Topics covered include:

  • Phantom income
  • Personal expenses paid for by a business on behalf of an owner
  • Adjusting officer’s compensation
  • Deferred compensation

Understanding Financial Statements for Marital Dissolutions
Family law attorneys must frequently review the financial statements of a business. Understanding these financial statements allows attorneys to effectively work with valuation experts, submit thorough subpoenas for financial information, learn of additional marital or non-marital assets, understand a party’s ability to finance attorneys’ fees and/or maintenance & child support, and gauge the appropriateness of previous compensation to the marital estate. This presentation will provide instruction and tips on reviewing financial statements to answer such questions as:

  • What is the difference between an audit, a review, and a compilation and what third party assurance is expressed by each?
  • Which assets and liabilities are presented at their historical cost versus their fair value?
  • How is net income most often manipulated?
  • What useful information can be learned from the notes to the financial statements and the auditor’s report?

Unscrambling the Tax Return Jigsaw Puzzle
Family law attorneys and practioners are often tasked with reviewing corporate and personal tax returns. Given the complexity of tax regulations and parties’ marital estates, this task may often prove daunting. This course will provide instruction on effectively using the information contained in three tax returns often encountered in divorce matters, namely the 1040 (individual return), the 1065 (partnership/LLC return), and the 1120S (S-corporation return). The speakers will discuss how these returns are interrelated and how they can be used to answer questions such as:

  • How do I delineate between the cash flow and taxable income generated by a business or rental property?
  • How can I use the information contained in the returns to identify potential assets held in the marital estate or other parties of interest?
  • What types of additional information should be requested in order to fully understand the parties’ financial picture?

Valuation Issues in Bankruptcy
This course summarizes areas where valuation issues are relevant throughout a bankruptcy, including adequate protection, claims determination, plan confirmation, and asset recovery issues. It also addresses valuation issues specific to distressed companies and summarizes concepts through examples and court decisions.

A Primer on Fairness Opinions
Learn a basic understanding of one type of transaction opinion– fairness opinions. This presentation will include their purpose, scope, and delivery by the financial advisor.

A Primer on Solvency Opinions
Learn a basic understanding of another type of transaction opinion – solvency opinions. The presentation will include their purpose, scope, and delivery by the financial advisor.

Business Valuation: A Primer for the Legal Professional
Business valuation issues arise in many situations in which attorneys are involved. The goal of this course is not to teach attorneys how to value a business themselves, but rather to arm them with enough information to be able to:

  • Understand the context of a valuation and the basics of the underlying theories and approaches;
  • Ask well-thought out questions regarding the valuation analysis during the attorney’s review of work;
  • Challenge the assumptions and play devil’s advocate with respect to the work;
  • Confirm that the assumptions and premise on which the valuation is based are not inconsistent with the law or legal arguments on the case; and
  • Design questions to ask the valuation expert for purposes of direct testimony or cross examination.

How to Review a Business Valuation Report
When reviewing a business valuation report, which assumptions, methodologies, underlying data, etc. should be examined closely? This course will provide instruction on how to assess the quality and reliability of valuation analyses. In addition, the course will provide tips on how to most efficiently review a report to understand the key components leading to the conclusion of value.

The Role of the Board in M&A
This course covers the specifics of director fiduciary duties in M&A transactions, the role of directors in deal negotiations and due diligence, and other matters that bear on the financial analysis of the transaction, including the role of the financial advisor’s fairness opinion.

Valuation and Financial Analysis: Developments and Trends from the Delaware Courts
This presentation will provide a background of several recent cases emanating out of Delaware and how the decisions in those cases may affect the methodologies, assumptions, procedures, and ultimate disclosure of the financial advisor’s analysis in an M&A transaction.

Valuation Issues Surrounding Buy/Sell Agreements
Frequently, disputes involving buy-sell agreements derive from faulty, incomplete, or contradictory language concerning valuation issues. This presentation will include actual language from buy-sell agreements to illustrate various valuation issues and will propose appropriate language to address potential disputes. Various aspects of valuation typically embedded within a buy-sell agreement will be addressed, including the:

  • Determination of value (e.g., valuation formulas, fixed price, etc.)
  • Valuation date (what information can be utilized)
  • Definition of value
  • Valuation methodologies
  • Funding

Business Valuation: A Primer for the Legal Professional
Business valuation issues arise in many situations in which attorneys are involved. The goal of this course is not to teach attorneys how to value a business themselves, but rather to arm them with enough information to be able to:

  • Understand the context of a valuation and the basics of the underlying theories and approaches
  • Ask well-thought out questions regarding the valuation analysis during the attorney’s review of work
  • Challenge the assumptions and play devil’s advocate with respect to the work
  • Confirm that the assumptions and premise on which the valuation is based are not inconsistent with the law or legal arguments on the case
  • Design questions to ask the valuation expert for purposes of direct testimony or cross examination.

Business Valuation for Gift & Estate Tax Purposes and IRS Audit Tactics
This course will discuss valuation concepts in a gift and estate tax context. Topics will include business valuation methodology, the theoretical framework and empirical data used to determining valuation discounts, and the factors that impact the magnitude of discounts. In addition, we will discuss tax court case law with respect to family limited partnerships, and other controversial valuation issues targeted by the IRS in audits of gift and estate tax matters.

How to Review a Business Valuation Report
When reviewing a business valuation report, which assumptions, methodologies, underlying data, etc. should be examined closely? This course will provide instruction on how to assess the quality and reliability of valuation analyses. In addition, the course will provide tips on how to most efficiently review a report to understand the key components leading to the conclusion of value.

How to Review a Commercial Real Estate Report
When reviewing a commercial real estate appraisal report, which assumptions, methodologies, and underlying data should be examined closely? By presenting key questions to ask of the appraiser, this course will provide a guide on how to assess the quality and reliability of commercial real estate appraisals.

The Current State of Discount Valuations
Valuation discounts remain one of the most controversial areas in disputes with the IRS on trust & estate related matters. Although lack of control and lack of marketability are the most ubiquitous discounts, many other discounts exist and can be pivotal in the overall value determination. The Current State of Discount Valuations course examines the most recent and most relevant court cases that address this topic. In this course, you’ll gain an inside perspective from Stout – a firm with more experts that have testified in Tax Court than any other firm in the country. Learn about the cases and the data to help you prepare to withstand IRS scrutiny.

Understanding the Basics of Business Valuation and Real Estate Appraisal
Designed specifically for attorneys, accountants, and other financial professionals, this course provides a general overview of business valuation and real estate appraisal, including a discussion of the process and methodology.

Valuation and IRS Hot Topics
This course will discuss valuation concepts in a gift and estate tax context and valuation issues observed in establishing buy-sell agreements of closely held business interests. Topics will include business valuation fundamentals, controversial valuation issues targeted by the IRS in audits, recent tax court cases, and factors to consider in estate planning in advance of a potential sale of a business.

Business Valuation: A Primer for the Legal Professional
Business valuation issues arise in many situations in which attorneys are involved. The goal of this course is not to teach attorneys how to value a business themselves, but rather to arm them with enough information to be able to:

  • Understand the context of a valuation and the basics of the underlying theories and approaches;
  • Ask well-thought out questions regarding the valuation analysis during the attorney’s review of work;
  • Challenge the assumptions and play devil’s advocate with respect to the work;
  • Confirm that the assumptions and premise on which the valuation is based are not inconsistent with the law or legal arguments on the case; and
  • Design questions to ask the valuation expert for purposes of direct testimony or cross examination.

How to Review a Business Valuation Report
When reviewing a business valuation report, which assumptions, methodologies, underlying data, etc. should be examined closely? This course will provide instruction on how to assess the quality and reliability of valuation analyses. In addition, the course will provide tips on how to most efficiently review a report to understand the key components leading to the conclusion of value.

Tips for Healthcare Attorneys Reviewing Appraisals
This course includes a primer of fundamental valuation methods and principles, a differentiation of specific regulatory and compliance driven healthcare valuation requirements, and several case studies designed to illustrate common healthcare appraisal errors that healthcare attorneys should watch out for.

Expert Witness Selection

The objective of this course is to present criteria you need to select and prepare expert witnesses in advance of trial. Specific topics include types of witnesses, the role of expert witnesses, keys in selecting witnesses, and preparing witnesses for testimony.

How to Review a Commercial Real Estate Report

When reviewing a commercial real estate appraisal report, which assumptions, methodologies, and underlying data should be examined closely? By presenting key questions to ask of the appraiser, this course will provide a guide on how to assess the quality and reliability of commercial real estate appraisals.