Intangible Asset are assets of business enterprises which lack physical form yet generate economic benefits either in isolation or in combination with tangible assets. There are five categories of intangible assets: Marketing-related, Customer-related, Artistic-related, Contract-based, and Technology- based. Specific examples of intangible assets are brand names, franchises, trademarks, patents, copyrights, mineral rights, securities, and contracts that generate economic benefits and grant rights and privileges to the owners. Intangible assets are a class of assets without physical form (such as a building) which generate economic benefits to the owners. To qualify for valuation, an intangible asset must be recognisable. In addition, valuators should be able to accurately measure the expected economic benefits. Owners of intangible assets use intellectual property rights such as copyrights, patents, and registrations to appropriate all the potential economic benefits from intangible assets. Business valuation analysts estimate the fair market value of intangible assets by applying techniques under the cost, market, and income methods.