Differences Between Expert and Court Expert Opinions
The general public often confuses the two terms and only realizes the difference when they find themselves in situations that require one of these documents.
Key Differences
Court Expert Opinion
- Has prescribed requirements for its formal format and is concluded with an expert seal (round stamp).
- The expert is appointed by the Minister of Justice.
- Required for corporate combinations (mainly mergers) and at the request of a court.
Expert Opinion (Estimate)
- Does not have a legally prescribed formal format, but standards and calculation methodologies are followed.
- The appraiser must hold a regulated trade license - Property Valuation for Business Enterprises.
- Suitable for inheritance proceedings, marital property settlement (divorce proceedings), or buying and selling companies.
Cost and Processing Time
Court Expert Opinion
- The most financially demanding, experts set their own prices (usually starting from CZK 50,000).
- An on-site inspection must be conducted.
- Depends on the purpose, type, and complexity of the enterprise being valued.
- Very time-consuming (usually from 3 months).
Expert Opinion (Estimate)
- Prices are somewhat lower than for court expert opinions.
- No on-site inspection is required.
- Depends on the purpose, type, and complexity of the enterprise being valued.
- We recommend verifying the authorization to provide this service (registered regulated trade license Property Valuation for Business Enterprises) and the quality of the expert opinion (listed sources and procedures used to determine the value).
- Very fast processing (usually within days).