Tag Archive | "goodwill"

Non-compete In Florida?


I’ve been reading up on them, and understand that these are some of the “rules” for protecting legitimate business interests in a non-compete:
1. Protecting Trade Secrets
2. Maintaining valuable confidential business or professional information
3. Preserving relationships with specific prospective or existing customers, patients, or clients
4. Defending goodwill associated with an ongoing business or professional practice, by way of a trademark, geographic location, or marketing/trade area
5. Maximizing Investment In Extraordinary Or Specialized Training
I’m having trouble understanding number 4 only. Can someone please provide a brief explanation of what it means?
Thank you so much!

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Accounting Homework (intangible Asset)?


Langrova Inc. has the following amounts included in its general ledger at December 31, 2010.
Organization costs $24,000
Trademarks 20,000
Discount on bonds payable 35,000
Deposits with advertising agency for ads to promote goodwill of company 10,000
Excess of cost over fair value of net identifiable assets of acquired subsidiary 75,000
Cost of equipment acquired for research and development projects; the
equipment has an alternative future use 90,000
Costs of developing a secret formula for a product that is expected to
be marketed for at least 20 years 80,000
On the basis of the information above, compute the total amount to be reported by Langrova for intangible assets on its balance sheet at December 31, 2010. Equipment has alternative future use.

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