How Would You Determine the Amount of Goodwill to Be

question 45

Essay

How would you determine the amount of goodwill to be recognized at date of acquisition when there is a noncontrolling interest present?

---

Definitions:

Patent

Protection that grants the holder the exclusive right to produce, sell, and use the object of the patent for 20 years; can be obtained for a product, process, invention, machine, or a plant produced by asexual reproduction.

70 Years

A measure of time often associated with copyright duration, extending 70 years beyond the life of the creator.

Easement

An irrevocable right to use some part of another’s land for a specific purpose without taking anything from it.

Irrevocable Right

A legal entitlement or privilege that cannot be withdrawn, cancelled, or reversed after it has been granted.