goodwill

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goodwill

n. the benefit of a business having a good reputation under its name and regular patronage. Goodwill is not tangible like equipment, right to lease the premises, or inventory of goods. It becomes important when a business is sold, since there can be an allocation in the sales price for the value of the goodwill, which is always a subjective estimate. Included in goodwill upon sale may be the right to do business without competition by the seller in the area and/or for a specified period of time. Sellers like the allocation to goodwill to be high since it is not subject to capital gains tax, while buyers prefer it to be low, because it cannot be depreciated for tax purposes like tangible assets. Goodwill also may be overestimated by a proud seller and believed by an unknowing buyer. (See: sale)

goodwill

noun altruism, amity, benefaction, benevolence, brotherhood, charity, cheerful consent, cheerful willingness, commercial advantage, cordiality, countenance, customer approval, customer encourageeent, earnestness, established patronage, established popplarity, established reputation, favor, favorable disposition, favorable regard, friendly disposition, geniality, good name, good nature, good reputation, helpfulness, humanity, known name, munificence, patronage, philanthropy, proven name, public favor, public support, sponsorship, support, sympathy, tolerance, willingness
Associated concepts: impairment of good will, sale and transfer of good will

goodwill

the advantage or benefit that is acquired by the business beyond the mere value of its capital stock or property in consequence of the patronage it receives from its customers. For example, it is usual for a business to be sold on the basis of so much for the stock and so much for the goodwill. Goodwill can also be considered as the amount by which the value of the business as a whole exceeds the assets minus the value of the company's liabilities. In another sense, it is ‘the probability that the old customers will resort to the old place’.
References in periodicals archive ?
Donations Provide 275,000 Hours of Goodwill Services in Bon-Ton Local Communities
13 Goodwills, 17 percent of the respondents, characterized themselves as 100 percent rural;
1, 2015 /PRNewswire-USNewswire/ -- The Goodwill Industries International board of directors has named Steve Lufburrow, president and CEO of Goodwill Industries of Houston, to serve a three-year term on the Goodwill Industries International board.
BALTIMORE, May 23, 2011 /PRNewswire-USNewswire/ -- On May 25, 2011 Goodwill Industries of the Chesapeake will hold its 55th Annual Awards Luncheon, sponsored by PNC Bank at the Renaissance Hotel, in downtown Baltimore.
Goodwill Association of Michigan and Dell (NASDAQ:DELL) today introduced RECONNECT Michigan, a comprehensive computer recovery, reuse and environmentally responsible recycling opportunity for Michigan consumers.
Sanwa Bank will be honored by Goodwill Industries of Southern California (GISC) with a Workforce and Career Development Award at GISC's Hope, Jobs & Futures awards ceremony at the Academy of Television Arts & Sciences in North Hollywood on May 1, 2000.
Altogether, Bay Area Goodwills have 51 stores and 157 attended donation stations.
The Council of California Goodwill Industries is a professional association made up of 13 Goodwill member associations operating in California and Southern Oregon.
Reconnect San Antonio takes advantage of the existing donation and retail infrastructure of Goodwill and the recycling experience and resources of Dell to offer a proactive, community-based solution to environmentally responsible electronics disposal.
This indicates that Goodwill Industries of Southern California outperforms most charities in America in its efforts to operate in the most fiscally responsible way possible.