Goodwill
Intellectual Property Rights

In the context for business reputation, at law goodwill is the attractive force that brings in custom. Goodwill and reputation are prequisites for a successful action in Passing Off. Goodwill is created by trading activity. Whether is exists in a particular trading enterprise (as well non-profit enterprises) depends upon the particular facts of the case, and in exceptional circumstances may be created in pre-launch preparations and short periods of time. Depending on the scale of the trading activities, residual goodwill may remain despite the cessation of trade.