business law

Most favored nation

Definition

A clause frequently included in bilateral investment treaties ("BITs") which provides that a host state shall treat all of its trading partners equally. Under such a clause, if the host state lowers a tariff for one trading partner, it must lower it for all trading partners.

 

Goodwill

The good reputation or brand identification enjoyed by a commercial entity.  In bankruptcy and other areas of law, goodwill is considered an intangible asset.

Good will is generally calculated as the difference between the purchase price of a company and the sum of its fair market value.

See General intangible.

 

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