Photographic Works refer to the recording of light or other radiation on any medium on which an image is produced. Photographic Works fall under the group of intangible assets referred to as artistic works and includes portraits, landscapes, and current events. In business valuation analysis, Photographic Works qualify as intangible assets because they are recognisable, separable and the potential value can be accurately measured. Intangible assets are a class of assets without physical form (such as a building) which generate economic benefits to the owners. To estimate the fair market value of a photographic works, business valuation analysts apply techniques under the market, asset and income valuation methods. Owners of photographic works appropriate exclusive rights over the economic benefits associated with their work through intellectual property rights registration for protection from infringements by third parties.