Natural Resources embody a wide range of resource endowments with significant economic value. Such resources include oil, coal, natural gas, forest, metals, stone, sand, etc. Governments and authorities manage the exploitation of natural resources by granting concessions as well as mining and related rights to individuals and companies to actualise the economic value. The rights and ownership of allocated natural resources qualify as an intangible asset because they can be recognised, separated, and the associated economic benefits can be reliably measured. Intangible assets are a class of assets without physical form yet can offer significant economic value to the owners. Business valuation analysts apply several techniques under the income, market and asset methods in the process of estimating the fair market value of intangible assets such as a natural resource.