The fair value provided is the one that buyers use to support their purchase price and also for financing purposes.
It is higher than the OLV because it assumes that a transaction would occur willingly between the buyer and seller, without the seller being obligated to transact.
The margin procedure for options is different compared to margining of futures.
Liquidation value is typically lower than fair market value.
Unlike cash or securities, certain illiquid assets, like real estate, often require a period of several months in order to obtain their fair market value in a sale, and will generally sell for a significantly lower price if a sale is forced to occur in a shorter time period.
Most measures of company worth are based on the net value of its assets, = total assets – total liabilities.
Of course, most companies are worth more than the sum of their net assets.