Goodwill is the difference between an established,successful business and one that has yet to prove itself.

Question

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Goodwill is the value of a business that is built over time and based on reputation, customer loyalty, brand recognition, and other intangible assets. A business with established goodwill has a positive reputation and is likely to have a loyal customer base, whereas a new business has yet to establish this reputation and customer base. Therefore, goodwill is a key factor that sets apart an established, successful business from one that has yet to prove itself.

Goodwill Is the Difference Between an Established,successful Business and One