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of <h1>Goodwill as Asset in Partnership Dissolution: Sale Rules and Competition Limits Under Indian Contract Act, 1872.</h1> In the dissolution of a partnership firm, goodwill is considered an asset and can be sold separately or with other firm assets, subject to the partners' agreement. After the sale, a partner may engage in a competing business and advertise it but cannot use the firm's name, claim to continue the firm's business, or solicit former clients unless agreed otherwise. Partners may also agree not to compete within certain limits, and such agreements are valid if reasonable, despite the general prohibition on trade restraints under the Indian Contract Act, 1872.
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