Business Goodwill is the portion of a business'value associated with the business itself. It includes things like brand recognition, location, procedural manuals, and market share. Since goodwill is transferable from one owner to another, it is sellable.
As such it is important for the business owners to have a clear picture of the goodwill components of their busines.
Source: Mark Wardell, March 2008
Published by canadaone.com
Last revision on December 16, 2008