The International Glossary of Business Valuation Terms defines goodwill as “[t]hat intangible asset arising as a result of name, reputation, customer loyalty, location, products and similar factors not separately identified.” Goodwill is further divided into two categories: personal and enterprise. Personal goodwill refers to the value arising from an owner’s reputation and skills, while enterprise goodwill refers to the value arising from a company’s stature in an industry. In Texas, while courts are unable to divide “personal” value, they may divide “enterprise” value. To determine the presence of enterprise goodwill, professions must evaluate:
If the valuation and division of a professional practice is at issue in your divorce, consider reaching out to an experienced family law attorney.
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Brian and his staff were great. Brian’s direction and expertise provided me with the legal information relevant for my needs over several years now. He listens and is steadfast which gave me comfort in the courses of action. I highly recommend him.Brian and his staff were great. Brian’s direction and expertise provided me with the legal information...
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