A Customer List is a detailed list of previous buyers or patrons of a company’s products or services. A well-organised Customer List enables a firm to maintain the strong customer relationship and promote customer loyalty which translates into the superior financial performance of the business. In business valuation, a Customer List qualifies as an intangible asset because it can be recognised, separated from tangible assets and its associated economic value can be reliably estimated. Business valuators estimate the fair market value of a customer list by applying techniques under the cost, market, and income methods.