Topic
Good Will
35 published works
DuetsBlog
Goodwill Inflation?
--Dan Kelly, Attorney Meet my trusty GE Electronic Digital FM/AM Clock Radio, Model No. 7-4624: I don't know if I can pinpoint it exactly, but this puppy has been with…
Unfair Business Practices
Va. Supreme Court Overturned a Multi-Million Dollar Goodwill Damages Award
By jamesjimb-kinselunfairbusinesspractices-blogspot
Recently in the case of 21st Century Systems, Inc. v. Perot Systems Government Services, Inc. ("Perot Systems") (available here), the Virginia Supreme Court overturned a multi-million dollar goodwill damages award.…
New Jersey Law Blog
Determining Business Goodwill in Divorce Cases
By John S. Eory
Under New Jersey divorce law, all assets "acquired by the parties or either of them during the marriage" are subject to equitable distribution at time of divorce. While most assets…
SALT Shaker
Goodwill Hunting for a Property Tax Exemption
The battle over the ad valorem taxation of intangible property rages on in the western states. On June 3, 2011, 15 counties were dealt a heavy blow when the Utah…
Trade Secrets & Employee Mobility
Supreme Court of Arkansas Refuses to Enforce Non-Compete Found In Lease Agreement
In an interesting recent decision, the Supreme Court of Arkansas refused to enforce a non-compete in a lease agreement -- which clearly had been violated -- because it did not…
Outside Inhouse Lawyer Blog
NY Court of Appeals Clarifies What Constitutes Improper Solicitation After Sale of Good Will of A Business
By Grace Healy
This is an update to a post I did last September about solicitation of former customers after the sale of the good will of a business. The Second Circuit requested…
Retail & Consumer Products Law Observer
IRS Denies Deduction for Worthless Goodwill When Retailer’s Franchise Is Terminated
The IRS recently concluded in internal legal advice (available at http://www.irs.gov/pub/irs-lafa/111101f.pdf) that an automobile dealer could not deduct the cost of acquired goodwill when an automobile manufacturer terminated the dealer’s…
SALT Shaker
California SBE Characterizes Gain from “Deemed” Sale of Goodwill as Business Income
In In re Appeal of Imperial, Inc., Case Nos. 472648; 477927 (July 13, 2010), the California State Board of Equalization (SBE) ruled that gain from the sale of stock sold…
Outside Inhouse Lawyer Blog
Second Circuit Asks NY Ct of Appeals to Clarify What Constitutes Improper Solicitation After Sale of Good Will of A Business
By Grace Healy
Stay tuned. This should be important to anyone voluntarily selling (or buying) the assets of a business, including its good will (or to anyone who hires a person who benefited…
The Contingency
Second Circuit Ponders Good Will, Discretionary Bonuses
You sell your company, including its "good will", to a competitor. Your buyer promises in the Purchase Agreement to hire you in a "generally comparable" position and to make you "eligible for…