An intangible is a non-monetary asset that manifests itself by its economic properties. It lacks physical substance but grants its owner rights and economic benefits. Intangibles are more specific than other assets and are associated with higher information asymmetries, higher risk profiles, and lower collateral value. Their accounting is controversial, privileging prudence over substance. The examination of general approaches to company valuation is preliminary to the estimation of assets, such as intangibles. The most widely used approaches to assessing intangibles are based on market, income, or cost-related metrics. Hard-to-value intangibles are based on innovative business models, whose value drivers are difficult to analyze and compare.