A Proprietary Product refers to a product produced under a legally protected proprietary process or a brand name. With the legally backed propriety rights, others cannot replicate the process or the product. In business valuation, a proprietary product qualifies as an intangible asset because it is recognisable and the associated economic benefits measurable. Intangible assets are a class of assets without physical form, with intrinsic value to the owners which arises from the potential economic benefits the assets can generate. To estimate the fair market value of Proprietary Products, business valuators apply techniques under income, market and asset methods.