ECONOMIC DAMAGES, IP, ROYALTY AUDIT, BREACH OF CONTRACT & FRAUD
World renown damages expert with more than 30 years of experience opining on forensics, lost profits, intellectual property, breach of contract, royalty audits, marketing, and fraud. A world leading expert on royalty auditing and royalty agreements. Former Big 4 Partner and Chief Audit Officer at Beats Electronics until its sale to Apple. A career split between leading companies (Disney, Oxy, Unocal) and CPA firms. An author of two books on financial terms in agreements (Oxford University Press & LexisNexis). Financial damages expert in matters with claims up to several billion dollars.
Complex Business Litigation and Intellectual Property Expert Witness
Expert witness in more than 90 cases in Federal, State, arbitration, and USITC matters. Case experience includes contract breach, complex commercial litigation, patent, trademark, copyright, wrongful termination, false advertising, personal injury, energy, partnerships, and professional accounting standards. His clients have won more than 90% of the cases and his calculations are generally accepted over other experts. Deep industry expertise in entertainment, apparel, energy, chemicals, consumer products, medical devices, pharmaceuticals, construction, licensing, manufacturing, software, hardware, service and toys.
Royalty Audits & Agreements
Blum led the national royalty audit practices for Big 4 firms Ernst & Young and KPMG where he also wrote the global contract audit methodologies. His clients have ranged from industry leaders to individuals. Commonly audited industries include consumer products, electronics, software, apparel, media and entertainment, medical devices, pharmaceuticals, toys, foods, and automotive. He also frequently talks about royalty agreements to bar organizations, law firms and at major events. He testifies on royalty auditor compliance within AICPA Standards. Representative clients have included Amgen Biotech, Microsoft, Disney, Dolby, Sony, Paramount Pictures, Mattel, GM, Sears, IGT, Tony Roma’s, Classic Media, Everlast Boxing, IMG, Time Warner, Philips, Tessera, Diageo, Harley-Davidson, Chrysler, J.C. Penny, Ross, Obey Clothing, Barry’s Bootcamp, DKNY, Ed Hardy, Body Glove, K Swiss, NBA, NFL, UMB Bank, Bank of America, US Polo Association, Conor McGregor, Tom Hanks, Lady Gaga, Dr. Dre., Justin Bieber, will.i.am, Steven Spielberg, Charlize Theron, Jimmy Iovine, Fleetwood Mac, Woody Allen, Shark Tank, The Apprentice, Nickelodeon, Marvel, HIT Entertainment, Warner Bros,. WWE, Hasbro, McDonalds, SAG, DGA, WGA, and many more.
Fraud & Forensics
Having led more than 1,500 forensic investigations, Mr. Blum was named the “Certified Fraud Examiner (CFE) of the Year” in 2012, by the Association of CFE’s. Later, Mr. Blum was elected as one of five ACFE board members and Vice Chair of the Board of Regents for 2016-2017. The Regents has authority over the admission of members and examination standards. The Board is also responsible for establishing, modifying, and enforcing the ACFE Code of Professional Ethics and all other matters necessary to maintain the high standards of the ACFE.
Sample Landmark Cases
• UMB Bank v. Sanofi: Stock contingent value rights ($315 million)
• Jillian Michaels v. Lionsgate: free video content released on YouTube ($5.8 million)
• MBC v. Create New Technology: DMCA theft of cable signals ($66.7 million)
• Converse, Inc. vs. Highline United: USITC trademark case for defense