In the field of business valuation, the content of a Library is classified as an intangible asset which can generate value to the owner. A Library may be viewed as a collection of knowledge resources for learning, professionals, researchers, business entities, organisations, communities and overall advancement of society. Libraries are typically set up for educating, informing, or entertaining a variety of audiences. A library qualifies as an intangible asset because it is identifiable and the associated economic benefits can be accurately measured separately from the tangible assets. To estimate the fair market value of libraries, business valuators apply techniques under the market, asset and income valuation methods.