Counterfeiting of Goods: Loss in Reputation & Goodwill

Preface

The goodwill of a business is a recognized form of property and it can be protected against infringement by others by process of law. The difficulty lies in the fact that goodwill though can be described, is very difficult to define. It has no independent existence apart from the business to which it is attached and can be therefore attempted to define it as a thing which distinguishes an old established business from a new business or can be termed as the power of attraction sufficient enough to bring customers again and again. Goodwill includes whatever adds value to a business, it is the whole advantage which may have been built up by years of honest work or gained by strategic advertising. Goodwill is invariably symbolized or identified by a trademark or tradename. The above propositions can well be acknowledged by the case Le Chemise Lacoste vs. R.H. Garments & Others.