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  1. #1

    Default Goodwill or Not

    Can an individual person hold Goodwill in a trade name , and how does it qualify as a "trade name" ?. Let me try and give an example. Lets say someone "launched" something called, for example, "Bitcoin" can that person hold Goodwill in the name "Bitcoin" even though many people are using the name ?.

  2. #2
    Join Date
    Jul 2018
    Posts
    1,796

    Default Re: Goodwill or Not

    The term "goodwill" is an accounting concept, not a legal issue. Therefore, I have responded to your questions assuming that, when you ask about "goodwill," you're really asking about trademark rights.


    Quote Quoting tryingtogetadvice
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    Can an individual person hold Goodwill in a trade name
    Yes.


    Quote Quoting tryingtogetadvice
    View Post
    how does it qualify as a "trade name" ?
    Through use in commerce.


    Quote Quoting tryingtogetadvice
    View Post
    Lets say someone "launched" something called, for example, "Bitcoin" can that person hold Goodwill in the name "Bitcoin" even though many people are using the name ?
    If the name is commonly used in commerce, then any given individual is likely to have to establish secondary meaning to hold legal rights in the name.

  3. #3
    Join Date
    Mar 2013
    Posts
    17,288

    Default Re: Goodwill or Not

    I have no idea what you are talking about. Do you?

    Perhaps you can provide a real life example.

    Is somebody claiming you've done wrong?

  4. #4

    Default Re: Goodwill or Not

    Quote Quoting adjusterjack
    View Post
    I have no idea what you are talking about. Do you?

    Perhaps you can provide a real life example.

    Is somebody claiming you've done wrong?

    I have no idea what YOU are talking about. Go back to sleep !.

    Quote Quoting pg1067
    View Post
    The term "goodwill" is an accounting concept, not a legal issue. Therefore, I have responded to your questions assuming that, when you ask about "goodwill," you're really asking about trademark rights.




    Yes.




    Through use in commerce.




    If the name is commonly used in commerce, then any given individual is likely to have to establish secondary meaning to hold legal rights in the name.
    Thanks. Yes not a registered trademark, but Goodwill in a trade name only.

  5. #5
    Join Date
    Oct 2016
    Posts
    3,349

    Default Re: Goodwill or Not

    Quote Quoting tryingtogetadvice
    View Post
    I have no idea what YOU are talking about. Go back to sleep !.
    Being rude to the volunteers that provide answers here is not going to help you around here.

  6. #6

    Default Re: Goodwill or Not

    Quote Quoting pg1067
    View Post
    The term "goodwill" is an accounting concept, not a legal issue. Therefore, I have responded to your questions assuming that, when you ask about "goodwill," you're really asking about trademark rights.




    Yes.




    Through use in commerce.




    If the name is commonly used in commerce, then any given individual is likely to have to establish secondary meaning to hold legal rights in the name.
    Thanks. Yes goodwill in a trade name, not a registered trade mark.

  7. #7
    Join Date
    Oct 2006
    Posts
    15,744

    Default Re: Goodwill or Not

    Quote Quoting pg1067
    View Post
    The term "goodwill" is an accounting concept, not a legal issue. Therefore, I have responded to your questions assuming that, when you ask about "goodwill," you're really asking about trademark rights.




    Yes.




    Through use in commerce.




    If the name is commonly used in commerce, then any given individual is likely to have to establish secondary meaning to hold legal rights in the name.
    To further expand on this explanation, Goodwill is a term that is often used when valuing a company or a division of the company. Lets say that the actual assets of the company, net the debts of the company are worth 500k but the company is selling for 1 million. The extra 500k is based on the Goodwill of the company name and reputation.

  8. #8
    Join Date
    Sep 2010
    Posts
    19,291

    Default Re: Goodwill or Not

    LL has it. Goodwill is the value the company has by reputation (as opposed to tangible assets ).

    It's distinct from trademarks. As pointed out, trademarks are brands used in commerce. You can have a trademark with no goodwill and vice versa.

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