It normally depends on having source of characters with particular characteristics to measure. If the incoming character is odd, that is LSB = 1, then you can measure the length of the START bit. The Carrige Return character has this property. If there are no incoming characters, then baudrate cannot be determined, but who cares? Well maybe you do if you want to talk to the device before it talks to you.
I suppose you could also try all available baudrates until you found one that worked. Selecting the search order would be the challenge especially if the device could operate at more than one rate.
I have some programs that came with the Picmicro F18's and F30's BLDC development board Picdem LV MC that includes auto baud rate detection for the PC based tuning program.
They are usually available for download with the board details on the site.
Max.