AB2B brand and its equity, as the most valuable intangible asset of any corporation, andbecause of creating extraordinary advantages, has a significant impact on companies’ success andeffective relations with B2B customers. This study, usingby grounded theorymethod, aims to identify and explain underlying and intervening conditions, whichhaveeffect onbrand equity in B2B ICT (Information & Communication Technology) marketsin Iran as an emergent economy. Studydata gatheredby in-depth semi-structured interviewswith Iranian B2B marketing experts. Theoretical sampling applied and theoreticaladequacy obtained by 23 interviews. Data analysis and coding based on GroundedTheory methodology through open, axial and selective coding revealed thatunderlyingconditions affecting B2B brand equity in ICT consist of one market environmental dimensionand four macro dimensions including political, economic, social and technological. Furthermore, intervening conditions affecting B2B brand equity in ICT consist of twodimensionof B2B customer perspective, which are customer profile and B2B purchaseassessment criteria; and three corporate perspective, namely management attitude, B2B purchase profile and B2B sales department attitude. The creditability of the modelmeasured by applying fit and applicability indices; and internal credit confirmed by binomial test