Blue skies ahead for veterinary medicine

Q: Is it still wise to purchase "goodwill" or "blue sky" in veterinary medicine?

First of all, for those of you who aren't already familiar, goodwill (sometimes called "blue sky") includes the intangible assets of a veterinary practice, such as employees' skills and represented by the brains and income as opposed to tangible assets like equipment. "Goodwill" of a practice is still an important component related to the total purchase price of a practice, says Gary Glassman, CPA, from Burzenski & Company in East Haven, Conn.