A Government Contract is a legal agreement with the Government which sets out the roles and responsibilities of the parties and grants some advantages to the other party. A Government Contract qualifies as an intangible asset because it can be recognised, separated from tangible assets and its potential economic value reliably estimated. Intangible assets are a class of assets without physical form (such as a building) which generate economic benefits to the owners. Business valuation analysts estimate the fair market value of government contracts by applying techniques under the cost, market, and income methods. Even though there are oral contracts, only written government contracts qualify as intangible assets which can be valued because non-written government contracts can be enforced.