A Schematic, or Schematic Diagram, involves the use of abstract and graphic symbols to represent the item being portrayed. Excluded in a Schematic Diagram are details to ensure that the diagram focuses on and conveys only the essential elements is intended to convey, which makes it easier to understand and grasp. A Schematic Diagram qualifies as intangible assets which can be recognised and the economic benefits measurable. Intangible assets are a class of assets without physical form but provide intrinsic value to the owners through potential economic benefits. To estimate the fair market value of an intangible asset such Schematic Diagram, business valuators apply techniques under the income, market and asset methods.