Intangibles are ubiquitous in every business, but the value of such assets can vary significantly, depending on the extent of legal protection available and the owner's ability to create strong entry barriers. The key challenges in valuing intangibles are the availability of asset-level information and comparable transactions multiples. This is especially true when intangibles are fairly unique and different from available market data. A deep understanding of the intangibles, their commercial viability, legal protection and a great degree of professional judgement are required for carrying out intangibles valuations relating to licensing of intangibles leading to royalty etc. Valuation of intangible assets could be arrived at by a combination of income, cost, market or royalty approaches. Valuations in special situations demand a thorough understanding of the situation and the intangible assets in question. Intangible assets could take various shapes and forms - software, intellectual properties, customer contracts, workforce, goodwill, licenses, brands & trademarks and many other forms.