goodwill
B2Formal in business contexts; neutral in everyday use.
Definition
Meaning
Friendly, helpful, or cooperative feelings or attitude.
In business and accounting, an intangible asset representing the value of a company's reputation, brand, and customer relationships.
Linguistics
Semantic Notes
Can denote personal benevolence or commercial value; context determines meaning.
Dialectal Variation
British vs American Usage
Differences
Spelling and usage are largely identical. 'Goodwill' is typically one word in both varieties, though 'good will' as two words is occasionally used for emphasis.
Connotations
In British English, may be perceived as slightly more formal in casual conversation.
Frequency
Equally frequent in business and legal contexts in both UK and US English.
Vocabulary
Collocations
Grammar
Valency Patterns
goodwill towards [someone/something]goodwill from [source]goodwill between [parties]Vocabulary
Synonyms
Strong
Neutral
Weak
Vocabulary
Antonyms
Phrases
Idioms & Phrases
- “goodwill ambassador”
- “in the spirit of goodwill”
- “goodwill tour”
Usage
Context Usage
Business
Refers to the intangible asset on a balance sheet, or the positive reputation and customer loyalty of a company.
Academic
Used in fields like economics, sociology, and law to discuss social capital, brand equity, or ethical considerations.
Everyday
Refers to friendly feelings or intentions, e.g., showing goodwill to neighbours or in community interactions.
Technical
In accounting, goodwill is the excess of the purchase price over the fair value of net identifiable assets acquired in a business combination.
Examples
By CEFR Level
- She showed goodwill by sharing her lunch.
- His goodwill made everyone feel welcome.
- The manager's goodwill towards the team improved cooperation.
- Building goodwill with clients is important for sales.
- The company's goodwill was damaged by the scandal, affecting its brand value.
- International goodwill is essential for diplomatic relations.
- Accounting standards require that goodwill be tested annually for impairment.
- The philanthropic efforts generated substantial goodwill among stakeholders.
Learning
Memory Aids
Mnemonic
Remember 'goodwill' by thinking of 'good will' as having good intentions, which accumulates like a valuable asset.
Conceptual Metaphor
Goodwill is a building block of social and commercial relationships, often conceptualized as a bankable resource.
Watch out
Common Pitfalls
Translation Traps (for Russian speakers)
- Direct translation 'добрая воля' may not capture the business accounting sense, where 'гудвилл' is used.
- Avoid confusing with 'благорасположение', which implies favor rather than general friendly attitude.
Common Mistakes
- Writing as two separate words 'good will' in contexts where 'goodwill' is standard.
- Attempting to use 'goodwill' as a verb, e.g., 'We goodwill our customers' is incorrect.
Practice
Quiz
In which context is 'goodwill' specifically an intangible asset?
FAQ
Frequently Asked Questions
No, 'goodwill' is typically written as one solid word, though historically it might have been hyphenated as 'good-will'.
Yes, in business contexts, 'goodwills' can refer to multiple intangible assets, but in general use, it is often uncountable.
'Goodwill' often implies a practical, active friendly attitude, while 'benevolence' can be more abstract or philosophical kindness.
In American English, it is pronounced /ɡʊdˈwɪl/, with the stress on the second syllable.