Goodwill is unique in that is not separately identifiable.

Unlike intangible assets such as

patents, trademarks, copyrights, franchises, trade names and licenses which can be
separately identified in the marketplace, goodwill can be identified only with the business
as a whole. It does not independently generate cash flows.
Intangible assets are also categorized as internally or externally acquired. Externally
acquired ones follow market valuation model and are recognized at their respective
market value. While internally created intangibles are recognized at cost. However the
cost of internally created intangibles can be difficult and subjective.