The multi-attribute utility model (MUM) provides a systematic technique for making complex decisions. One innovative way business valuation experts may use this framework is to break down goodwill in divorce cases. Here’s a look at how this approach can help courts better understand experts’ analyses and conclusions regarding goodwill allocations. What is goodwill? Goodwill in a business valuation context is a catchall phrase that refers to all intangible assets that aren’t valued separately. When settling a divorce that includes a private business interest, goodwill is often divided into two components: 1) enterprise (or business) goodwill and 2) personal (or professional) goodwill. In many jurisdictions, personal goodwill is excluded from the marital estate if the divorce involves maintenance payments. However, ex-spouses rarely agree on how to allocate goodwill between the two...