Features of Goodwill

Goodwill is an intangible asset as it cannot be seen or touched.
The intangibility feature of goodwill does not make it a fictitious asset.
So, good will is an intangible asset and not a fictitious asset.
The more the goodwill of the company, the better the image a company will have.
It represents the reputation of the business not the expenditure of the business to increase the reputation.
Though goodwill represents the reputation and image but that does not mean expenditure done by the business to increase the reputation or to advertise or to increase customer loyalty will be included in goodwill.