Land Use Rights refer to the authorisation, permission or approval granted by the Government or a state agency to an individual or a business entity to occupy, use, or make an economic return from a parcel of land. The right to use a parcel of land for a particular purpose grants the owner exclusive right over all the economic benefits which can potentially emanate from the land. In business valuation, land use rights are classified under intangible assets which is over and above the entitlements the land brings to the owner. Intangible assets are a class of assets without physical form which can generate value to the owners. In determining the fair market value of Land Use Rights, business valuation analysts apply business valuation analytical techniques under the income, market and asset methods.