Amateurish Reply: I believe that Fair Value is actually the value that is proposed by the market, or what the market is willing to offer in exchange for rights to the tangible / intangible asset.

If im not mistaken there was an in-depth discussion on the Fair Value basis with emphasis on intangible assets or else known as Goodwill. From what I last learnt, there are 2 methods to calculate the goodwill, Partial or Full which is with regards to Parent and Subsidiary. But thats a discussion altogether.

From what I deduce, Goodwill and its value is simply determined by the market price or price offered, deducting the company assets, and the balancing figure would be the Goodwill.

Anyways, anyone out there, please correct me and dont take my input at face value, this is just coming off the top of my head But thats my input. Hope to hear more substantiated arguments and explanations!