Usually just trial and error - you probably have some idea how it should look so have a good starting point. Then the beauty of Corona is you can start IR, and adjust the camera view and/or the object position until everything looks just right, so the "trial and error" isn't that bad (it isn't "make a guess, render, wait and see how it looks, discover it wasn't quite right, stop, adjust, press render....")
PS - unless you know exact dimensions of the scene in the photo and of the object, the location of the camera, height of the camera, focal length of the camera that took the background image, and all that good stuff, in which case you could set up the scene accurately even without IR.