Public Asset
/ˈpʌblɪk ˈæsɛt/
Definitions
- (n.) Property or resources owned collectively by the government or community, held for public use or benefit.
The park is a public asset maintained by the city for recreational purposes.
- (n.) Any item or resource that a government controls and uses to deliver public services or fulfill governmental functions.
Water supply infrastructure is a crucial public asset for urban management.
Forms
- public asset
- public assets
Related terms
See also
Commentary
The term primarily denotes government-owned resources; distinguish it from private assets and common property held by individuals or groups.
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.