Business goodwill is an accounting term that signifies a business’ intangible assets, such as a company’s brand name, loyal customer base, good public reputation, patents, and proprietary processes and technologies. This is opposed to tangible assets, such as real estate or equipment.
Business goodwill is an accounting term that signifies a business’ intangible assets, such as a company’s brand name, loyal customer base, good public reputation, patents, and proprietary processes and technologies. This is opposed to tangible assets, such as real estate or equipment.
Business goodwill is usually assessed when a buyer acquires an existing business, but pays more than the value of the net assets. The remaining balance is considered the value of the acquired company’s business goodwill.
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