Goodwill meaning

go͝odwĭl
Goodwill is defined as an attitude of kindness or a good relationship between a business and its customers.

An example of goodwill is the act of always donating to charities.

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An attitude of kindness or friendliness; benevolence.
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Cheerful consent; willingness.
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Cheerful acquiescence or willingness.
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A good relationship, as of a business with its customers or a nation with other nations.
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The positive reputation of a business and its likely continued patronage by clients, considered as part of its market value.
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A friendly or kindly attitude; benevolence.
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(accounting) An intangible asset which takes into account the value added to a business firm as a result of patronage, reputation, etc.
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An intangible asset above and beyond the concrete value of a business or asset. For example, the value of a business’s good name and customer relationships. Goodwill is listed as an asset on a company’s balance sheet and must be amortized over its reasonable life, which can’t exceed 40 years. If a large corporation purchased a small business for $25 million, but its actual value is determined to be $35 million, goodwill is valued at $10 million.
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A favorably disposed attitude toward someone or something.
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(accounting) The value of a business entity not directly attributable to its tangible assets and liabilities. This value derives from factors such as consumer loyalty to the brand.
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(business) A concept used to refer to the ability of an individual or business to exert influence within a community, club, market or another type of group, without having to resort to the use of an asset (such as money or property), either directly or by the creation of a lien.
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Origin of goodwill

  • From Middle English *goodwille, good wille (“goodwill”), perhaps from Old English *gōdwille ("goodwill"; compare Old English gōdwillende (“well-pleased”); also Scots guidwilly, guidwillie (“displaying goodwill”)), equivalent to good +‎ will. Cognate with Scots guidwill (“goodwill”), Middle Low German gūtwille (“goodwill”), Old High German guotwilligi (“goodwill”), Old Danish godvilje (“goodwill”), Icelandic góðvilji, góðvili (“goodwill”), Icelandic góðvild (“goodness”).

    From Wiktionary