Asset
/ˈæsɛt/
Definitions
- (n.) Property or items owned by an individual or entity, having monetary value.
The company's assets include buildings, equipment, and cash.
- (n.) A useful or valuable quality, person, or skill.
Her negotiation skills are a valuable asset to the legal team.
Forms
- assets
Related terms
See also
Commentary
In legal contexts, 'asset' often refers specifically to items recognized on a balance sheet, distinguishing from liabilities and equity.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.