A Joint Venture (JV) Agreement is a business model under which two or more parties pool resources to execute an existing or new business opportunity. A JV agreement details the roles, responsibilities and obligations of each of the parties. In business valuation analysis, a JV agreement qualifies as an intangible asset because it can be recognised, separated, and the associated economic benefits reliably measured. Intangible assets are a class of assets without physical form yet possess intrinsic value to the owners. To value the fair market value of a JV agreement, business valuators apply techniques under the income, market and asset methods.