The appraisal remedy provides an elegant and effective instrument for minority protection in situations of fundamental changes. Its effectiveness depends however on the “right to exit at a fair price”. Determining a fair price has given rise to legal questions of business valuation. This...

Valuation of shares is of critical importance when shareholders are forced to leave their company. Despite this importance, there is little comparative scholarship on how the valuation issue is handled in different jurisdictions. As part of a broader research agenda, this paper explores the...

Appraisal remedies have proven to be an effective instrument for minority protection in both Germany and the US. A crucial element of this remedy is the determination of a "fair price", giving rise to complicated questions of business valuation. This article gives an overview of the key...

Die Unternehmensbewertung hat in der juristischen und ökonomischen Praxis große Bedeutung. Die vielgestaltigen, oft rechtsformübergreifenden Fragestellungen und die sich stetig ausdifferenzierende höchst- und instanzgerichtliche Rechtsprechung erschweren Juristen den Zugriff auf diese stark...