Goodwill—What is it Worth in the Market?

: This paper discusses the intangible asset that dentists refer to as practice goodwill. How is the market value of practice goodwill estimated? After defining goodwill in economic terms, a formula is given that dentists can use to estimate and negotiate the price of goodwill. Guidelines are suggested that indicate how the formula can best be used. Some general market conditions that can affect the price of goodwill in a particular area are discussed.