This chapter identifies eight intrinsic elements that inhere in all deterrence processes. Identifying the elements is a first step in reconceptualizing deterrence theory. The elements include: (1) costs and rewards of crime and non-crime; (2) interaction of punishment certainty, severity, and celerity; (3) the form of the relationship (e.g., linear or curvilinear) between crime and punishment certainty, severity, and celerity; (4) objective costs and rewards of crime and non-crime, along with perceptions of these costs and rewards; (5) personal and vicarious costs of crime and non-crime; (6) personal and vicarious rewards of crime and non-crime; (7) duration of costs and rewards; and (8) punishment levels, changes, and level–change combinations. As discussed in the chapter, some, but not all, elements have been recognized in prior work. In addition, little consideration has been given to systematically investigating the implications of the intrinsic nature of the elements or how they are involved in deterrence processes.