Customer List refers to regular buyers who have a history with the business entity and are well known by the entity. The list typically exists in the database of a business entity and contains information such as names, contact information, demographics, and buying history which can be leveraged to create value. A customer list is an intangible asset, a source of competitive advantage, and can generate significant value to complement the value an enterprise generates from its tangible assets. In business valuation analysis, a Customer List qualifies as an intangible asset because it can be recognised, separated from tangible assets and its associated economic value can be reliably estimated. Business valuators estimate the fair market value of a customer list by applying techniques under the cost, market, and income methods.