The term Value-in-Place refers to an asset which has been installed in its current location but not being used. The term also applies to assets in a warehouse or not yet in place or assembled. For example, assets which are being held for disposal or are on the loading dock. In business valuation analysis, when a business is being valued, business valuators do not rely on the book value of an asset which has been installed but not being used (Value-in-place). Rather the value of the asset is revalued at fair market value to inform the adjustments and normalisation of the balance sheet. The fact that an asset has been installed and not used imply that asset will maintain its original book value. The fair market value may be higher or lower depending on developments in the external economic environment.