A simple way to look at the value of a privately owned company is to subtract the liabilities from the assets. What remains is the net worth or value of the company. Assets include cash, bonds, notes, receivable, inventory, accounts receivable, buildings, land, furniture, fixtures and vehicles and equipment. Also included are intangible assets such as patents, intellectual property, trade secrets, customers lists and good will. Liabilities include mortgages, notes payable, revolving credit lines, loans, accounts payable and any outstanding obligation such as unfilled orders, unperformed services or maintenance contracts that have been paid for. A buyer will usually discount assets that are less liquid, such as accounts receivable, or difficult to assign a monetary value, such as intellectual property.