Question

The difference between good will and trademark.

Answer 1

Goodwill is an intangible asset of a firm. ... Trademark It is a recognizable sign , design or an expression which helps differentiate a product or service of a particular company from others .

Goodwill is a premium paid over the fair value of assets during the purchase of a company. Hence, it is tagged to a company or business and cannot be sold or purchased independently, whereas Trademark can be sold and purchased independently.

Goodwill is perceived to have an indefinite life (as long as the company operates), while other intangible assets have a definite useful life.