Definition, Meaning & Synonyms
goodwill
noun
ˈɡʊdˈwɪl
Definition
Goodwill refers to the positive reputation and relationships that a business or individual has built over time, which can lead to future benefits.
Examples
- The company’s goodwill helped it to secure a higher price when it was sold.
- He was known for his goodwill toward the community, often volunteering his time.
- The goodwill generated from years of excellent service attracts new customers.
Meaning
It represents the value of non-physical assets like brand reputation, customer loyalty, and employee relations.
Synonyms
- beneficence
- kindness
- benefit
- favor
- charity
