The “good will” of a business is the expectation of continued public patronage.
Chapter 1Good Will
Section § 14100
This law defines 'good will' as the belief that customers will keep coming back to a business.
good will business value customer loyalty public patronage business reputation ongoing patronage customer retention client relationships business assets brand loyalty customer trust repeating business commercial success business trust reputation value
Section § 14101
If you buy a business, you don't automatically get the right to use the previous owner's personal name as part of your business's goodwill.
The good will of a business does not include a right to use the name of any person from whom the business was acquired.
good will business acquisition name usage previous owner business names personal name rights acquired business name rights business transactions ownership transfer brand identity trademark issues
Section § 14102
This law says that goodwill, which is the value of a business's reputation and customer relationships, is considered a type of property in California, and it can be bought, sold, or transferred to someone else.
The good will of a business is property and is transferable.
goodwill business reputation customer relationships transferable property business value property rights business assets selling a business property transfer business ownership intangible assets business transactions business transfer ownership transfer business goodwill
Section § 14103
If someone sells their business and its reputation (the goodwill), they can also sell the rights to the business's name as part of that deal.
The person transferring the good will of a business may transfer with it the right of using the name under which the business is conducted.
goodwill business name transfer selling a business business reputation trade name rights transfer business sale agreement commercial goodwill name rights business identity company branding business transaction trademark transfer intellectual property brand name sale
