An Agreement is a negotiated and a legally binding arrangement between parties regarding a course of action. An agreement grants the parties privileges or exclusivity over the potential economic benefits which can be generated. For an agreement to qualify as an intangible asset, it must be a legally enforceable contract which has mutual assent expressed by a valid offer and acceptance. This grants the parties exclusive rights to the economic benefits during the contract period. An agreement qualifies as an intangible asset which can be valued by business valuators because it is recognisable and the associated stream of exclusive economic benefits can be accurately measured. Business valuators estimate the fair market value of agreements by applying techniques under the cost, market, and income methods.