Question

Hindi m goodwill ka nature

Answer 1

Goodwill is a thing easy to describe, but very difficult to define. It is the benefit and advantage of good name, reputation and connection of a business. It is the attractive force which brings in more customers. It is one thing which distinguishes an old established business from a new business at its first start. Goodwill is composed of a variety of elements. It differs in its composition in different trades and different businesses in the same trade.”

“Goodwill is a nebulous term for that part of the value of an asset or business arising from factors and directly associated with the assets or business as such. For instance, goodwill may arise from the good reputation of the business or the fact that it is making profits above the average due to some particular advantages.