436 14th Street, Suite 1400, Oakland, California 94612
Graves & Allen Attorneys and Councelors at Law
510.839.8777 Call for a Consultation
Committed to Providing the Hightest Level of Service. Helping clients since 1973.

Business Law Newsletter

  • Sending Cease and Desist Letters to Protect a Business Name
    Trademark owners generally have exclusive rights to use their mark to label or identify their goods and/or services. Accordingly, trademark rights in a business name give the mark owner the right to use the name for commercial purposes,... Read more.
  • Trade Secret Licensing
    Under the Uniform Trade Secret Act (UTSA), adopted by a vast majority of the states, a “trade secret” is information (including a formula, pattern, compilation, program, device, method technique or process), not generally... Read more.
  • Non-Disclosure Agreements
    Proprietary information, such as confidential business information, trade secrets, and intellectual property, may be worth millions of dollars. Public exposure or use by others may potentially dilute or destroy the value of such... Read more.
  • “Remuneration” as Used to Compute Workers’ Compensation Premiums
    Workers’ compensation law governs rights and procedures for compensating employees for work-related injuries and occupational diseases. While workers’ compensation law is based largely on state statutes (and thus varies by... Read more.
Business Law News Links

Business “Good Will”

The “good will” of a business is an intangible asset, like the reputation, skill, or experience that is associated with the business. It also refers to the rate of recurring patronage that a business has developed over time with the general public.

Ownership

The good will of a business belongs to the business owner. It might be owned by either an individual or a corporation, but not by stockholders. The representative of a business is not personally connected to the business’ good will.

The ownership of good will may be transferred when the business is sold, but it cannot be sold apart from a business’ physical property. Good will ownership may also be transferred even when it is only implied and not specified in a contract. For example, the good will of a business trade name or trademark would be automatically transferred upon the sale.

Unfair Competition

The former owner of a business may conduct a similar business and even draw in former patrons. But it is not fair play if the former owner purposely confuses the public into thinking that a new business is the former business. This is unfair competition, and the new owner may be able to take action.

Remedies

An injunction may be imposed upon the former owner, disallowing any further activity that would cause public confusion and loss of profits to the new owner. If fraudulent activity has occurred, monetary damages may be awarded.

Share This Page:
Designed and Powered by NextClient

© 2013 - 2017 Graves & Allen Attorneys and Counselors at Law. All rights reserved.
Custom WebExpress™ attorney website design by NextClient.com.