Santa Monica Pictures, LLC, Perry Lerner, Tax Matters Partner - Page 249

                                        -317-                                         
          and Europe on various aspects of copyright, trademark, and                  
          entertainment law, including the transfer of film rights and                
          chain-of-title issues.217  She serves on the arbitration panel and          
          the legal committee of the International Film & Television                  
          Alliance (IFTA), formerly known as the American Film Marketing              
          Association.218                                                             
                    a.  Ms. Nemschoff’s Expert Opinion                                
               Ms. Nemschoff submitted her report and testimony on the                
          following matters:                                                          
                    (1) the contractual terms, legal documentation of                 
               ownership and pre-closing research that would be                       
               reasonably and customarily expected in connection with                 
               the acquisition of rights in motion pictures;                          
                    (2) the steps customarily taken by a transferee of                
               film rights to protect its ownership in the acquired                   
               rights;                                                                
                    (3) any deficiencies and discrepancies in the                     
               legal documentation obtained and research undertaken by                
               SMP in connection with its acquisition of the “U.S.                    
               Video Film Rights” in 65 film titles and 26 development                
               projects purportedly owned by SMHC, including                          
               discrepancies in the ownership of rights as disclosed                  
               by U.S. Copyright Office records; and                                  
                    (4) any deficiencies and discrepancies in the                     
               steps taken by SMP to protect its rights in these                      
               assets.                                                                


               217 At one time, Ms. Nemschoff served as general counsel and           
          vice president of business affairs at Concorde-New Horizons                 
          Corp., a motion picture production and distribution company.                
               218 The legal committee of the International Film &                    
          Television Alliance addresses the transfer of film rights, chain-           
          of-title issues, and copyright issues.                                      





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