CALIFORNIA FAMILY LAW
...Business Interests
......Goodwill
.........Limitation by Agreement
............Agreement Controls
7 Cards On This Topic:

Businesses may limit value of goodwill by agreement.

W's interest in large law firm partnership limited by partnership agreement to her capital account, but not accounts receivable, work in progress, or goodwill, in which she had no interest.

Shareholder agreement defining value to exclude AR/WIP properly applied in dissolution of marriage.

Restrictive transfer agreement must be considered when valuing minority stock interest in closely held corporation.

Law firm's stock purchase agreement, excluding goodwill, enforced in dissolution.

"Minority interest" discount from price set in stock agreement affirmed.

Covenant not to compete upheld, without payment of goodwill.