This document discusses valuation methods for goodwill. It defines valuation as estimating the worth of an asset or liability by a professional. Goodwill is characterized as an intangible asset that contributes to excess profits and is only realized upon sale or transfer of a business. The key methods discussed for valuing goodwill are the average profit method, super profit method, and capitalization method. The average profit method calculates goodwill as the average profit over past years multiplied by a number of years. The super profit method separates profits into normal profits and super profits. The capitalization method values goodwill based on capital employed and normal rate of return.