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 ?
22 Goodwills, 28 percent of the respondents, described themselves as completely nonrural;
Sanwa is being honored for its partnership with GISC in the training and hiring of Goodwill clients for customer service jobs.
HP's generosity helps us bring the technology revolution to our communities," says Fred Grandy, president and CEO of Goodwill Industries International.
The awards will recognize Goodwill mission service clients who have exceeded expectations, as well as Goodwill's volunteers and community supporters.
Goodwill is a leader in the 'reduce, reuse and recycle' model," said Jim Gibbons, president and CEO of Goodwill Industries International.
Reaching Goodwill's 50th is a huge tribute to all past and present employees that have worked so hard to further the mission and increase services to the people served by Goodwill.
LOS ANGELES -- Goodwill Southern California (GSC) is now partnering with the American Red Cross of Greater Los Angeles to accept clothing and household donations to assist victims of the recent wildfires.
The Council of California Goodwill Industries is a professional association made up of 13 Goodwill member associations operating in California and Southern Oregon.
This 'exceptional' designation from Charity Navigator differentiates Goodwill Southern California from its peers and demonstrates to the public it is worthy of their trust.
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.