Goodwill
/ˌɡʊdˈwɪl/
Definitions
2 meaningsFriendly and helpful feelings or behavior towards others.
/ˌɡʊdˈwɪl/
A friendly and helpful attitude; kindness.
The company enjoyed goodwill among its customers.
💡 Simply: It's like having a super-nice feeling inside and wanting to help people out. Like when you smile and hold the door open for someone, that's goodwill!
👶 For kids: Being nice and friendly to others.
More Examples
The ambassador's visit was designed to promote goodwill between the two nations.
They accepted his offer out of goodwill.
How It's Used
"She showed goodwill towards her neighbors."
"The charity relied on the goodwill of the community."
The intangible value of a business, representing the difference between the purchase price and the fair value of identifiable net assets acquired in a business combination.
/ˌɡʊdˈwɪl/
The established reputation of a business.
The merger created significant goodwill.
💡 Simply: Imagine a bakery everyone loves. Goodwill is like the extra value that comes from all the people who already trust and like that bakery, even if you buy a new building or location. It is the value beyond the cost of the equipment and ingredients. It's why people keep coming back and spending money there!
👶 For kids: When a company is popular and people like it.
More Examples
The company's goodwill was damaged by the scandal.
They had to write down the goodwill on their balance sheet.
How It's Used
"The acquisition included the goodwill of the company."
"Goodwill is an intangible asset on the balance sheet."
Idioms & expressions
Goodwill gesture
An act or offering made to show friendliness or build positive relations, often after a period of disagreement.
"The company made a goodwill gesture by donating to the local charity after the pollution incident."
From Middle English 'gode wille', referring to a kindly feeling or disposition. Later expanded to signify the value of a business beyond its tangible assets.
The term 'goodwill' was used in legal and business contexts in the late 19th century, referring to the value of a business's reputation and customer relationships.
Memory tip
Think of feeling 'good' and having 'will' to help others.
Word Origin
"good will (well-being, favorable disposition)"