Goodwill is the intangible value of a business beyond its tangible assets such as the reputation, customer relationships, brand recognition, and going concern value that make the business worth more than the sum of its physical parts.

Enterprise goodwill is the goodwill that belongs to the business as an ongoing entity and would survive the departure of any individual owner. It is generally community property to the extent accumulated during the marriage and is subject to division.

Personal goodwill is the goodwill that belongs to an individual the professional reputation, relationships, and skill that would follow the person if they left the business. Personal goodwill is generally considered the separate property of the person whose reputation and skill created it.