In brief these are:

• Value Offered: The vendor makes the products available (thus offering the value.) The Customer or Partner applies their own knowledge to exploit them.
• Value Added: The vendor responds to the Customer or Partner's needs or pain and uses its knowledge (adds value) of products and services to build a solution.
• Value Created: The vendor reveals risk or opportunity for the Customer or Partner and assumes some responsibility for the Customer or Partner to realise the envisioned return (thus creating value for them)
• Value Captured: The vendor shares full risk and reward by capturing the value jointly with the Customer or Partner.