Question

Give opinion:

Goodwill is a critical aspect of a business’s value. It represents hours of work on the part of the employees of the company in the form of QA processes, customer service, marketing and branding, relationship management, and other behaviors that increase (or decrease) this value

Answer 1

Business goodwill is described as an intangible asset which increases the value of an enterprise beyond its current market value. Business goodwill occurs when purchased at a premium, above market or book value price from one business at another.

Goodwill can be due to a variety of factors, including the well-known brand name of the company, excellent client relationships, a strong consumer base, any patents or patented inventions, proprietary methods, trade secrets, licenses, custom software systems, training programs, proprietary databases, published articles or any of the other intangible assets not listed on the device as such

Popular commercial interventions such as software-based customer relationship management, incentive schemes and target marketing continue to lift the amount of information collected (and often shared) significantly. This raises privacy risks very dramatically, which has driven the move to legislation, rather than relying on corporate willingness to maintain goodwill. Consumer privacy laws and regulations aim to protect any person from privacy loss due to deficiencies or limitations of the privacy measures of corporate customers