Business / Accounting / Goodwill: An intangible asset that exists when a business is valued at more than the fair market value of its net assets, usually due to strategic location, reputation, good customer relations, or similar factors: equal to the excess of the purchase price over the fair market value of the net assets purchased.
Business / Finance / Market Value: The price at which an asset would pass from an informed and willing seller to an informed and willing buyer, assuming that goodwill played no role in the transaction. MORE
Business / Accounting / Amortization: The depreciation (or repayment) of an (usually) intangible asset (eg. loan, mortgage) over a fixed period of time. Example: if a loan of 12,000 is amortized over 1 year with no interest, the monthly p MORE