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One Step Forward And Two Steps Backward - Goodwill As A Distributable Asset Of A Law Partnership, Jean Hoffman

Akron Law Review

The Ohio Supreme Court examined both the traditional and modern views of goodwill as an asset in a law partnership and held that it was not against public policy to include measurable goodwill as an asset upon the dissolution of a law partnership. The court also concluded that ethical considerations did not preclude finding goodwill in a law partnership. However, the court held that goodwill could be distributed upon the dissolution of the partnership only when it was specifically provided for in the partnership agreement. This paper will examine the Spayd v. Turner, Granzow and Hollenkamp court's findings and the …