Business Assets
Business assets are the resources owned by a company that have economic value and can be used to generate revenue. These assets can be tangible, such as property, equipment, and inventory, or intangible, such as patents, trademarks, and goodwill. Business assets are essential for the operation and growth of a company, as they represent the tools and resources that help the business produce goods or services.
Example
A manufacturing company’s business assets might include factory buildings (tangible assets), machinery (tangible assets), and patents on its production processes (intangible assets).
Key points
• Business assets are resources owned by a company that hold economic value.
• They include tangible assets (like property and equipment) and intangible assets (like patents and trademarks).
• Essential for generating revenue and supporting the company’s operations.
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