goodwill

Definition:

1. In accounting, the difference between the value of a business as a whole and the aggregate of the fair values of its separable net assets. 2. In law, the probability that customers of a business enterprise will continue to deal with it despite any change of ownership, arising from the reputation of the name of the business or of its trade mark or of the premises where it is conducted or of the person who has been carrying on the business.



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