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Article
Author(s)
Annalisa Baldissera
Full-Text PDF XML 774 Views
DOI:10.17265/1537-1514/2020.03.003
Affiliation(s)
University of Brescia, Brescia, Italy
ABSTRACT
Goodwill is a topic widely
dealt with in business and accountancy literature. It has developed through a
complex process over the centuries, being established as an empirical
phenomenon in a first phase and obtaining legal recognition and scientific
attention in a subsequent phase. Regarding its empirical affirmation, although
it cannot be excluded a priori that original forms of goodwill have emerged
since ancient times, the research carried out here focuses on the evolutions
subsequent to the feudal age, for which significant evidence exists, both legal
and economic. In relation to its legal
recognition, Roman law had already acknowledged the existence of goodwill
(though it excluded the right to compensation), especially in leases and in the
relationship between landlord and tenant. From
the Lex Mercatoria to the Italian
civil and commercial codes, the right to compensation for goodwill has always
been denied by the legal system. However, regardless of this attitude, which
was clearly unfavorable to the tenant, legal doctrine and accounting studies
developed increasingly evolved theories, reaching modern positions at the end
of the 19th century that were similar to current ones in many respects. The aim
of this research consists of reconstructing the salient phases of the above
process through the analysis of the legal rules and literature.
KEYWORDS
goodwill, legal system, economic literature, legal theories
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