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Greenleaf advocated
Fair Value
An estimated market price of an asset or liability, reflecting the amount for which it could be exchanged between knowledgeable and willing parties in an arm's length transaction.
Market Participants
Buyers and sellers in the principal market that are independent of each other, knowledgeable, and willing and able to enter into a transaction.
Intangible Assets
Assets that cannot be physically touched or seen but have value, such as patents, trademarks, and copyrights.
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