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 ?
Based out of Washington, DC, Upright Labs has helped optimize, build, and audit the ecommerce operations for 6 out of the top 11 Goodwills, each with over $100 million in yearly revenue.
Many of the top Goodwills use Lister to list thousands of items per month across multiple marketplaces.
The 1,500-square-foot store, modeled in the fashion of several Portland area boutique shops, will offer high-end clothing, purses, jewelry, household items, houseware and other accessories, plus some new items, all at a deep discount, said Libby Steffen-Schafermeyer, spokeswoman for the Eugene-based Goodwill Industries of Lane and South Coast Counties.
But shoppers are likely to pay more than they may have come to expect from Goodwill, Steffen-Schafermeyer said.
McClelland said the numerous alliances his Goodwill has developed and participated in over the years have certainly been a factor in the overall success, which ranks third of the 181 Goodwills nationally.
* 13 Goodwills, 17 percent of the respondents, characterized themselves as 100 percent rural;
Sitting at the heart of Indiana, Goodwill of Central & Southern Indiana is one of the largest Goodwill entities in North America.
General Motors (NYSE: GM), a United States-based automaker, has granted around USD0.5m investment to Goodwill Industries International, a network of 161 community-based, autonomous organisations in the United States and Canada.
M2 EQUITYBITES-October 5, 2018--General Motors grants USD0.5m investment to Goodwill Industries International
Fort Myers, FL, April 15, 2016 --(PR.com)-- Goodwill Industries of Southwest Florida is pleased to announce, "Fashion Through the Decades," a celebration commemorating 50 years of service in Southwest Florida.
Fort Myers, FL, February 24, 2016 --(PR.com)-- Goodwill Industries of Southwest Florida invites the community to help celebrate its Golden Anniversary, representing a half century of services to promote the independence and self-sufficiency of our neighbors, family members, friends and co-workers.
Santa Ana, CA, January 29, 2015 --(PR.com)-- Frank Talarico, Jr., President and CEO of Goodwill of Orange County, has been appointed as Chair of the Council of California Goodwill Industries, the largest association of Goodwill organizations in the country, effective January 1, 2015.