What do you mean by Goodwill as per the provisions of Indian Partnership Act, 1932?

Goodwill: The term “Goodwill” has not been defined under the Indian Partnership Act,1932. Section 14 of the Act lays down that goodwill of a business is to be regarded as a property of the firm. Goodwill may be defined as the value of the reputation of a business house in respect of profits expected in future over and above the normal level of profits earned by undertaking belonging to the same class of business.