GOODWILL
goodwill. A business’s reputation, patronage, and other intangible assets that are considered
when appraising the business, esp. for purchase; the ability to earn income in excess of the income
that would be expected from the business viewed as a mere collection of assets. • Because an
established business’s trademark or servicemark is a symbol of goodwill, trademark infringement
is a form of theft of goodwill. By the same token, when a trademark is assigned, the goodwill that
it carries is also assigned. — Also written good will. Cf. going-concern value under VALUE(2).
[Cases: Good Will 1–2.]
“[Goodwill] is only another name for reputation, credit, honesty, fair name, reliability.” Harry
- Nims, The Law of Unfair Competition and Trade-Marks 36 (1929).
“Good will is to be distinguished from that element of value referred to variously as
going-concern value, going value, or going business. Although some courts have stated that the
difference is merely technical and that it is unimportant to attempt to separate these intangibles, it
is generally held that going-concern value is that which inheres in a plant of an established
business.” 38 Am. Jur. 2d Good Will § 2, at 913 (1968). . [Blacks Law 8th]