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goodwill

play
noun good·will \ˌgu̇d-ˈwil\

Simple Definition of goodwill

  • : a kind, helpful, or friendly feeling or attitude

  • business : the amount of value that a company's good reputation adds to its overall value

Source: Merriam-Webster's Learner's Dictionary

Full Definition of goodwill

  1. 1 a :  a kindly feeling of approval and support :  benevolent interest or concern b (1) :  the favor or advantage that a business has acquired especially through its brands and its good reputation (2) :  the value of projected earnings increases of a business especially as part of its purchase price (3) :  the excess of the purchase price of a company over its book value which represents the value of goodwill as an intangible asset for accounting purposes

  2. 2 a :  cheerful consent b :  willing effort

goodwilled

play \-ˈwild\ adjective

Examples of goodwill in a sentence

  1. She has goodwill toward all her coworkers.

  2. They allowed him to keep the extra money as a gesture of goodwill.



Before 12th Century

First Known Use of goodwill

before 12th century



GOODWILL Defined for Kids

goodwill

play
noun good·will \ˈgu̇d-ˈwil\

Definition of goodwill for Students

  1. :  kind feelings or attitude




Law Dictionary

goodwill

play
noun good·will \ˈgu̇d-ˌwil\

Legal Definition of goodwill

  1. 1 :  an intangible asset that is made up of the favor or prestige which a business has acquired beyond the mere value of what it sells due to the personality or experience of those conducting it, their reputation for skill or dependability, the business's location, or any other circumstance incidental to the business that tends to draw and retain customers

  2. 2a :  the value of projected increases in the earnings of a business especially as part of its purchase price b :  the excess of the purchase price of a business above the value assigned for tax purposes to its other net assets



Additional Notes on goodwill

The Internal Revenue Code requires the purchaser of a business to allocate the purchase price among the various types of assets. Frequently the purchase price is greater than the sum of the values of the individual assets. The excess is labeled goodwill. Because of its indefinite life, goodwill is not amortizable as an asset. The purchaser will therefore usually try to keep the allocation to goodwill as small as possible.



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