A Cooperative Agreement is a negotiated and legally binding agreement under which the Central Government of a country transfers resources to states, local governments, and private recipients for public goods or benefits. Cooperative Agreements qualify as intangible assets because they can be recognised, separated from tangible assets and the associated economic value can be reliably estimated. Cooperative agreements grant the recipients exclusive rights to the economic benefits during the contract period which are legally enforceable. Business valuation analysts apply techniques under the cost, market, and income methods to estimate the fair market value of cooperative agreements.