Goodwill, also known as business goodwill, is an intangible asset of good reputation and customer loyalty. It happens due to many incidents, including the foundations of the business, the successful practice of the business, and the association with certain people. Goodwill, in essence, has a lot to do with reputation.
Businesses can be considered assets during a divorce, and their goodwill is classified as the business's intellectual property (similar to a trademark). If you are experiencing divorce and own a business with your former spouse, contact a Miami FL divorce attorney for legal assistance.
Business goodwill is subject to the same type of analysis that marital and nonmarital property gets when determining what belongs in the marital estate or is subject to equitable distribution.
The biggest challenge that must be faced in goodwill during a divorce is determining if it belongs to the enterprise or to the individual in that enterprise. There are many complexities involved, along with long-term implications - because of this, individuals should contact a Miami family law lawyer to get the proper legal guidance throughout.
Rafool, LLC has decades of experience handling these complicated divorce and business issues. Our lawyers understand the value of the intellectual property and have worked with many high net worth divorces to protect and preserve those rights.
This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.