| Commentary

223 Goodwill

| Commentary

223 Goodwill

The transfer of a business as a going concern normally involves the transfer of all its assets both tangible and intangible, including, especially, goodwill. To understand why this is, it is first necessary to examine what ‘goodwill’ actually is. One thing it is not is the aggregate of all the business’s intangible assets. Many businesses have a variety of intangible assets which can be separately identified and given individual values, sometimes with specific periods of duration. Examples would include patents, franchises, licences, agencies and some trade marks1. Goodwill is an asset separate and additional to these assets.

Broadly, goodwill

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